Toolmaker Stanley Black & Decker is expanding its U.S. manufacturing operations with a new plant in north Fort Worth.

The iconic American company is putting a 425,000-square-foot manufacturing plant with 500 full-time jobs in the AllianceTexas development near Interstate 35W.

The plant will open late next year, producing a variety of Craftsman brand mechanics tools, including sockets, ratchets and wrenches.

“When we purchased Craftsman 2017, we were determined to revitalize this iconic U.S. brand and bring back its American manufacturing heritage,” Stanley Black & Decker President and CEO Jim Loree said in a statement. “From the launch of Craftsman’s refreshed brand identity last year to our announcement of the first new manufacturing facility in many years, we’re demonstrating our continued commitment to grow the brand and bring even more production of these great products back to the United States.

“This new plant will also be the latest in our network of manufacturing facilities — one that uses state-of-the-art manufacturing technologies and demonstrates our commitment to becoming one of the world’s leaders in advanced manufacturing.”

Denton County officials said Wednesday afternoon they will finalize an incentive agreement with the company for the facility in the next few weeks.

Stanley Black & Decker has 30 manufacturing facilities in the United States and more than 100 manufacturing facilities globally.

Stanley Black & Decker is a $14 billion company with 61,000 employees in more than 60 countries.

Its brands include Black & Decker, Bostitch, Craftsman, Dewalt, Facom, Irwin, Lenox, Porter Cable and Stanley.

Earlier this year, the toolmaker announced that it would put a 1.2 million-square-foot shipping hub with 300 jobs north of Fort Worth in Northlake. The giant distribution complex is at the intersection of I-35W and State Highway 114.