Lord Corp. plans to expand its Cary headquarters and add 117 jobs during the next five years.
State officials this morning approved giving the company a grant worth as much as $1.3 million if it meets hiring and investment goals. Cary also will provide $50,000.
Lord Corp. CEO Rick McNeel announced expansion plans in March, and said he would seek incentives to help foot the bill. The company also considered sites in Ohio and Pennsylvania, which allowed it to qualify for North Carolina financial aid.
The new jobs will average annual salaries of $81,487. Lord Corp. already employs 329 people in Cary and more than 2,600 worldwide.