Well hello there, capitalism:

Firearms maker Sturm, Ruger & Co. has finalized plans for a manufacturing facility in Mayodan, in Rockingham County, where the company expects to hire more than 450 people to design and assemble weapons.

If it meets the hiring goals, Sturm Ruger could receive as much as $9.46 million in state incentives from the Job Development and Investment Grant (JDIG) program.

The company, which plans to invest $26 million in the new plant, expects to fill jobs in production, tool making, engineering and product design by the end of 2017.

Sturm Ruger said in an announcement that the Mayodan plant will measure 220,000 square feet and will be the company’s first major expansion in more than a quarter-century. Southport, Conn.-based Sturm Ruger employs more than 2,000 people and operates plants in New Hampshire and Arizona.

“Ruger has created 900 jobs over the last five years and we hope to continue this growth in Mayodan,” said company CEO Mike Fifer in an announcement issued by Gov. Pat McCrory. “There is a phenomenal work force in the area. We’ve had two job fairs. The response has been tremendous and the caliber of the potential employees is really impressive.”

The new Sturm Ruger facility is the second firearms-related business acquisition for North Carolina this year.

In May, Cape Fear Arsenal chose Lumberton, NC over Dillion, SC, bringing an expected 150 jobs manufacturing centerfire rifle and pistol ammunition.