North Carolina hopes it will host a new plant planned by heavy-equipment manufacturer Caterpillar Inc. that will employ about 500 employees and contract workers.

Gov. Beverly Perdue is planning to make an announcement in Winston-Salem on Friday, shortly after a meeting of the committee that approves state tax incentives. The Winston-Salem Journal reports the state rebates could be worth up to $50 million.

Perdue's office says she will announce 390 jobs, the same number expected to be created by local sweeteners offered to Caterpillar earlier this month.

A Caterpillar spokeswomen declined comment to The Associated Press.

The earth-moving and agricultural equipment factory would use another 120 contract workers.