RALEIGH – Tools manufacturer Bosch Power Tools is going to nearly double its workforce at a plant in Lincolnton and build a 365,000 square foot building under an agreement struck with the North Carolina Department of Commerce’s Economic Investment Committee on Thursday.

Bosch needs the expansion to meet growing demand for cutting tools, according to Commerce.

The company will receive nearly $4 million in state and local incentives if all targets for jobs and investment are met.

Bosch will invest $109 million in the project.

The jobs will pay an average minimum wage of more than $53,000.

Bosch already operates a factory in Lincolnton with some 550 workers. The EIC agreement calls for those jobs to be retained.