Proto Labs Inc. will invest $25 million to expand the 3-D printing operation in North Carolina that it purchased a year ago, officials said Friday.
The investment, which will add 170 jobs in North Carolina over five years, involves the buying and renovating of an existing building and includes the upgrading of production equipment.
Proto Labs' 3-D printing division will move into the new space in about six to nine months from two smaller leased locations in Raleigh, N.C., officials said.
The addition is the latest in a series of expansions for Minnesota's Proto Labs, which is better known for quick-turn injection-molding and precision milling work.
Proto Labs bought the small 3-D printing firm, FineLine Prototyping in Raleigh, for $37 million in April 2014. That deal got Proto Labs into 3-D printing for the first time and gave it 85 workers on the East Coast.
At the time, Proto Labs CEO Vicki Holt said FineLine would not move to Minnesota and that Proto Labs would look for opportunities to grow that business.
On Friday, CFO John Way noted that the 3-D printing entity has done just that. "Our [3-D printing] additive manufacturing business grew 79 percent from the first quarter of 2014 to 2015. It's been growing really well since we acquired it."
FineLine custom manufactures three-dimensional parts for customers in the aerospace, medical, industrial and consumer product industries.