Master Machine, which currently operates at several sites, including on Workman Road, is planning to move to a large facility at 200 Compress St.
Officials said the firm plans to spend $7.7 million on real property and $2.5 million on personal property.
The firm currently has 72 employees and plans to add 45 new jobs by the end of 2029.
Adam Myers, Chamber of Commerce vice president for development, said Master Machine qualifies for $135,000 in job incentives under the High Growth and Investment Incentive Program.
He said the payouts will come from the county at the city on a 50-50 basis.
The city's portion will come from the city Industrial Development Board.
Master Machine provides components for the nuclear industry among other customers.