Longtime Lincoln County power tool maker Bosch will add 400 jobs in a $130 million expansion of its Lincolnton-based North American operations, Gov. Roy Cooper and the company said Thursday.

The jobs will pay an average annual salary of $53,204, exceeding Lincoln County’s average wage of $49,332, according to the N.C. Department of Commerce, which led the state’s efforts to help Bosch expand.

The state offered $2.7 million in taxpayer incentives to the company over 12 years. The project’s payroll could add an annual $21.4 million to the community, Commerce Department officials said.

In a statement, Cooper said the company’s announcement signaled that North Carolina’s well-trained workforce continues to attract jobs.

Bosch will make power tool accessories for saws, drills and routers in a new 325,000-square-foot building, according to Cooper’s office. Company officials said they’ll expand production over two years.

About Bosch power tools maker

Based in Germany, the company opened its Lincolnton site in 1960 and employs about 420,000 people worldwide.

Bosch reported $6.2 billion in 2022 worldwide sales and said it intends to more than double sales by 2030.

“We are sharpening our product portfolio to best meet the needs of North American users,” Bosch North America president and CEO Robert Hesse said in a statement. The Lincolnton expansion “supports our growth goals here.”