ELGIN, Texas (KXAN) — A family-owned manufacturer previously based in Austin has set up shop in a new facility in Elgin.

Carr Lane Manufacturing specializes in precision tools and materials used for aerospace and automotive uses, among others. Now, it’ll be the inaugural company to launch in Elgin Business Park, a new establishment in town.

This latest move to Elgin marked a $12 million investment in both Carr Lane’s new plant and related equipment. Company officials called this the largest investment in Carr Lane’s 70-year business history.

It had been operating a manufacturing plant in Austin since 1979. With this move, the company’s Austin staff of 70 has moved into the new Elgin facility.

“Moving to Elgin and Bastrop County does give our employees additional, reasonable cost of living options,” said Keri Westland, Carr Lane’s chief administrative officer. “I think everybody knows it’s expensive in the Austin area, so we’re excited about that.”