DNP IMS America Corp., a printing technology company, is expanding its operations in Cabarrus County, North Carolina. Gov. Bev Perdue announced Wednesday the company plans to invest nearly $24.8 million and create 40 new jobs in the area over the next three years.

“North Carolina continues to attract high-quality, advanced-manufacturing jobs, due to our outstanding workforce and business-friendly environment,” Perdue said. “This announcement is also a great example of how we benefit from business relationships with overseas companies that bring jobs and investment to our state.”

Perdue added the project was made possible largely because of an $80,000 grant from the One North Carolina Fund.

Currently there are 97 workers at the site, which has been in operation since 1995. The expansion will create a domestic coating line for the company, which is a 100 percent U.S. subsidiary of Dai Nippon Printing Co.

The Charlotte Business Journal reports the average annual wage for the jobs will be $46,757, excluding benefits. The county average is $32,396.