Cree, a maker of LED lighting, is expanding in Durham, North Carolina, with a $135 million investment. The project will create 244 jobs in the coming two years. The state's Job Development Investment Grant (JDIG) program assisted in the expansion.

"Cree is proud to be expanding our operations in North Carolina," said Cree Chairman and CEO, Chuck Swoboda, "The establishment of this next generation wafer fab capability will help us to lead the next phase of the LED Lighting Revolution."

Governor Bev Perdue called Cree "a homegrown success story," as the company got its start at North Carolina State University. The company now employs 1,723 people in Durham County.

If Cree meets the targets of the JDIG, it could see benefits up to $2.2 million. It could also receive up to $746,000 from the state's Industrial Development Fund for infrastructure improvements.