ARCHDALE, N.C. -- Upholstery furniture maker Lancaster Inc. plans to relocate and expand with a $5 million investment in a new North Carolina facility.

Lancaster is building a 60,000-square-foot plant that the company says is more than three times the size of its current location. The company said it intends to retain its current 25 full-time employees and create at least 27 new jobs with an average annual salary of $46,000 over five years, according to the county Economic Development Corporation.

The expansion will generate opportunities for jobs in framing, sewing, upholstery, marketing, customer care, and management, and will also benefit local suppliers to the company, according to the EDC.

Plans for the new greenfield construction have been submitted for review, with grading to begin by the end of October and relocation to the new site in 2024.

Founded in 1986, Lancaster has recorded multiple years of double-digit sales growth, according to the Triad Business Journal.

The city of Archdale and Randolph County together offered up to $120,7000 in incentives over five years. That includes payments over the term to the company equivalent to 60% of anticipated tax revenue if it meets an incentives threshold and up to $2,700 from the city of Archdale for water and sewer fees.

"The support from The City of Archdale and Randolph County was a predominant factor in our decision to remain in this area,” said company president Bill Lancaster. “This project will enable us to better serve our customers and afford our entire team many added benefits that will come with the new and enhanced facility.”