(CARY) -- A global manufacturing materials maker plans to expand its headquarters in Wake County. LORD Corp. will add 117 new jobs and invest $20 million over the next five years in Cary.

Gov. Beverly Perdue confirmed on Tuesday that the company is eligible to receive a state grant.  The incentives could be worth as much at $1.3 million if LORD meets all of the job creation and investment targets.

“The investment from the state of North Carolina allows us to not only move our company forward, but also renew our commitment to the state,” said Rick McNeel, chairman and chief executive officer, LORD Corporation. “At LORD, we utilize innovative technology to build unique solutions for our clients. Given the presence of some of the best universities and community colleges in the country, North Carolina offers us a tremendous talent pipeline to grow our company.”

Up to $436,000 could be added to the state’s Industrial Development Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded in the state’s more economically prosperous counties such as Wake, 25 percent of the grant award is allocated to the Industrial Development Fund to encourage economic development in less prosperous counties.