Seeley International will expand in a relocation from Albury to Wodonga, creating up to 300 jobs on the Border.
Victorian Premier Daniel Andrews was in Wodonga on Thursday to make the announcement.
The air conditioning manufacturer, which recently took out the excellence in innovation and the most outstanding medium or large business at the Albury-Wodonga Business Awards, said it hoped to complete the move within 18 months.
Seeley, which has been based in Albury for more than 20 years, said it was still assessing sites in Wodonga although a greenfield site in West Wodonga was considered an option.
Mr Andrews said cuts to payroll tax in Victoria played a strong role in luring Seeley across the Border.
“The most powerful example of our determination to keep regional Victoria strong is of course the 25 per cent cut in regional payroll tax,” he said.
“It is a significant signal and significant cost-saving for businesses.
“This really important decision this company has made is a great vote of confidence in our state.
“The job numbers involved make this a significant announcement.”