Canadian-based Danfoss-Turbocor announced Tuesday it will move its headquarters to Tallahassee.
Company executives say they'll move into Innovation Park by June. A majority of the new building will be owned by the City of Tallahassee.
The Leon County Commission turned down an agreement in November, but city commissioners picked up the deal and approved it.
The Leon County Economic Development Council estimates it will bring up to 200 high paying jobs to town and pump $16 million into the local economy.
Danfoss- Turbocor manufactures air conditioner compressors using magnetic technology.