Nearly one hundred new jobs will be created, with hundreds more secured according to a healthcare company.
Siemens Healthineers is expanding its diagnostics centre in Llanberis, Gwynedd, with Welsh government support.
The site will become the global manufacturing base for the German company’s Immulite blood analysis technology.
Economy Minister Vaughan Gething said the move was “vote of confidence” in the Welsh economy.
The products manufactured at the site are used across the world to help diagnose medical conditions.