Staffordshire Precision Engineering, in Newcastle-under-Lyme, has received £1.5m to expand its current premises, add new machinery and increase its workforce.
As part of the investment, a portion of which is funded by the Regional Growth Fund, the firm will leave its premises of 29 years to nearby Parkhouse Industrial Estate in November.
The development will also include the purchase of three DMG Mori Seiki DMU 50 five axis machines.
The investment will help the organisation build on several successful years, in which turnover has increased substantially on the back of component manufacturing projects in the medical technology, aerospace and leisure and gaming sectors.
The company will be able to slash lead times and take on much larger projects when it moves to new premises.
Joint MD Phil Smith said: “We’ve been looking to move for two years now after reaching capacity at our current HQ and have been operating from three different sites.
“The move will enable us to bring everything back under one roof, and as it more than doubles our floorspace, will give us room to grow further, improve efficiency, and take on bigger projects.
“It will be sad to leave Redmine Close as it’s been our home since 1985, but we have very big plans for the business and this will help us take it to the next level.”
Staffordshire Precision Engineering was established in 1981 and employs 43 people.