Maryland Governor Larry Hogan announced that Sinclair Broadcast Group, Inc., one of the largest television broadcasting companies in the country, will keep its Hunt Valley, Md.  headquarters and invest $12 million in its three buildings in Baltimore County.

The company, which has 333 employees in Maryland, plans to add 367 full-time employees, targeting 700 full-time employees by the end of 2023.

“Sinclair has been growing and has tripled in size in the last six years. Now, our momentum continues as we roll out our plans to double that growth and our size over the coming five years. This is an exciting time for Sinclair as we work toward the completion of our acquisition of Tribune Media Company,” said Chris Ripley, president & CEO of Sinclair Broadcast Group, in a statement.

Sinclair, through its portfolio of television broadcast stations, is the leading local news provider in the country, as well as a producer of live sports content, and owner of multiple emerging networks, four radio stations and the Tennis Channel.

“Companies, like Sinclair, that choose to grow their business in our great state, further demonstrate our administration’s commitment to ensuring Maryland remains open for business. This is tremendous news for Baltimore County and our state,” said Governor Hogan.

According to a report in The Sun, the state’s Department of Commerce approved a $1.3 million loan through the Maryland Economic Development Assistance Authority and Fund to assist with project costs. Baltimore County is providing a $130,000 loan. The company is also eligible for tax credits through the state’s Job Creation Tax Credit.

Sinclair owns 193 television stations in 89 media markets across the U.S.