MANSFIELD - A Wrentham company has purchased a building on Cabot Boulevard, two months after voters approved a tax-incentive package to facilitate the move.

Tyco Valve, more commonly known locally as Crosby Valve and Controls, has purchased a 118,000-square-foot building at 55 Cabot Blvd. The company says it will spend $20 million to renovate the building.

"We look forward to becoming long-term members of the Mansfield community and to building a long-term partnership with the town," said Dave Thibault, director of Tyco's Americas nuclear business.

The company's purchase comes after voters at November's fall town meeting approved a tax-increment financing package that will allow the company to pay the property tax on the land's current value, estimated at $6.1 million, not the estimated $10 million value of the building once renovations are completed.

During the 18-year agreement, the company would pay incrementally more in property taxes each year, until finally paying taxes on the full value of the facility when the deal expires. The new facility, which is scheduled to open in the fall, would add 30 to 50 positions to the 85-person workforce employed at the Wrentham facility, officials have said. The new positions would be engineers and manufacturers, and their salaries and benefits would average $100,000 per year.

Tyco was one of three companies to receive such packages from the town, along with Covidien and Medline, two life science companies already operating in the business park.

Crosby Valve was purchased by Tyco in 1998, and has been in its Wrentham location since 1948. The company makes products for nuclear power generation and the Navy. There would be no nuclear material present at the facility.

MATT KAKLEY covers Mansfield for The Sun Chronicle. He can be reached at 508-236-0333 or at mkakley@thesunchronicle.com.