Precision machine shop Archer Machine, which will produce industrial valves for submarines and aircraft carriers as well as power plants and wastewater systems, plans to open in Limington.

According to the Maine Department of Economic and Community Development, the new company worked with the governor’s account executive Kristine Schuman to find incentive programs and get upgraded equipment.

“As a new small business that is just starting out, getting access to tax incentives in a timely manner is huge,” Archer Machine President Michael Hanes said in a statement. 

Hanes plans to hire five people immediately, all will average salaries of nearly $40,000, according to the DECD. His goal over the next three to five years is to triple that number as work and demand increases.

Archer’s initial investments total about $600,000, which include improvements on the former home of Metal Works Inc., the DECD said.