A unit of medical device company Teleflex Incorporated will be relocating from Research Triangle Park to a new site nearby in Morrisville in an expansion projected to total $20 million in investment in coming years.

Teleflex plans to create 75 new jobs at the new facility within three years. The Pennsylvania company currently employs 442 in the Triangle.

The new Teleflex facility and jobs were announced by Gov. Pat McCrory. In exchange for the jobs pledge, Teleflex will receive a $200,000 performance-based grant from the One North Carolina Fund. Companies awarded these grants receive no money up front and must meet job creation and investment targets in order to qualify for the funds.

The new jobs will be mostly professional and technology positions that the North Carolina Department of Commerce projects will bring an additional $5.4 million annually in payroll to the state. Salaries will vary by function; the commerce department said many will be senior positions with average wages in excess of the Wake County average of $48,042.

Teleflex designs, develops, manufactures and supplies single-use medical devices used by hospitals and health care providers in more than 140 countries.

“Our business has flourished in North Carolina since the early 90’s, thanks to the talent and dedication of our people,” Benson Smith, chairman, president and CEO of Teleflex said in a statement. “Our company is growing, and this new facility will provide our employees with a world-class environment for collaboration, innovation and career growth.”