(HIGH POINT) -- A leading medical and diagnostic laboratory announced plans to expand its operations in Guilford County. Solstas Lab Partners plans to create as many as 500 jobs and invest about $11.6 million dollar over five years.

Gov. Bev Perdue confirmed that the company is eligible for a $450,000 state grant.  Solstas would have to create 300 jobs and invest $7.5 million in the first three year to qualify for the grant.  The company also wants to take advantage of other local incentives being offered by Guilford County and the City of High Point which would require additional jobs and investments.

Solstas is headquartered in Guilford County and already employs more than 1,750 people at numerous labs across the state. The company employs more than 720 full-time workers and 140 part-time positions at its High Point facility.

"High Point was a natural fit for our expansion," said Solstas CEO David Weavil. "Simply put, the energy and experience of the medical workforce here is exceptional, and meets our needs for a best-in-class organization."