JOHNSON CITY, Tenn. -

Hundreds of new jobs are on their way to Johnson City thanks to the expansion of a company headquarters.

NN, Incorporated announced Monday morning the company is buying the SunTrust bank building on Mockingbird Lane and will will turn it into its new corporate office.

The company will share the building with the bank until the company grows into the entire building overtime. The $17 million annual investment is expected to create 200 new jobs.

NN, Inc. manufacturers and supplies high precision metal bearing components, industrial plastic and rubber products and precision metal components to a variety of markets worldwide.      

NN, Inc. has 12 manufacturing plants in the United States, Western Europe, Eastern Europe and China.

The company is currently based in Erwin, but the move will allow it to expand over the next several years.

Company executives say they considered several metropolitan areas around the country before deciding to locate in Johnson City.