Kingspan, the building products company, is to create 163 jobs in Portadown as part of a £47m expansion.
The engineering and manufacturing posts will be created at the Kingspan Renewables business which makes solar power equipment.
The development is being supported with an offer of £6.5m in public funds from Invest NI.
Noel Crowe, managing director of Kingspan Renewables, said they aim to quadruple sales in the next five years.
He added that as governments set more renewable energy targets the market should expand.
"As legislation develops, and demand for innovative and sustainable energy sources continues to increase, Kingspan Renewables will maintain its position as a market leader," he said.
The NI Enterprise Minister Arlene Foster made the jobs announcement as she officially opened the company's new advanced manufacturing facility.
She said it was a significant boost for the manufacturing sector.
"This facility is an example of truly sustainable, high value manufacturing techniques," she added.
"The solar products, now being manufactured in Portadown, are some of the most technologically advanced in the world.
"This, combined with the new jobs generating more than £5m per year in new salaries, reinforces Kingspan as an important and major contributor to the local economy."
Kingspan Renewables was set up in 2007, when the Cavan-based Kingspan Group acquired the Thermomax brand of solar vacuum tubes.