The centre is investing £300,000 on three projects, including an 80 per cent increase in warehouse space.
Tong Garden Centre's total turnover for the first year’s trading under the current owners was more than £6 million and is forecast to rise by another £2 million over the next 12 months.
The garden centre was acquired by Mark Farnsworth and Tom Megginson in May 2015, with a funding package from Yorkshire Bank arranged by relationship manager Duncan Brock.
The deal also included additional support to create the Grasshoppers children’s adventure playground and café.
The new owners have also extended the plant area, refurbished the restaurant, added a farm shop with a bakery and butchery area and added a concessions area.
Farnsworth said: "We want Tong Garden Centre to be a destination centre for all the family and are investing a further £300,000 across three major projects this year to further that goal."
Work is due to complete this month to extend the playground, which attracted more than 22,000 children last summer, by 50 per cent to 4,500 sq m, including additional play equipment along with a large seating area with a hot food servery.
The expansion plans also include a new 300 sq m warehouse.
Farnsworth added: "When we acquired Tong there were 45 staff. We now provide employment for 135 local people and anticipate that this will rise to more than 150 by the end of 2016.
"The support from Yorkshire Bank ahead of the purchase and during our first year of business has been invaluable. As a result, we are firmly on-track with plans for the centre and have big ambitions for the future."
Rick Warburton, head of Yorkshire Bank’s North Yorkshire customer banking centre, said: "Watching the ways in which Mark and the team have worked in consultation with their customers to transform Tong Garden Centre over the last year has been a privilege and one we’ve been happy to support.
"I can see only good things for this ambitious business in the future and I’m thrilled to hear that news of further expansion is expected to create an additional 15 local jobs this year."