NORTHAMPTON — A manufacturing company with two locations in the city will expand to a third after securing financing to buy the building at 120 River Road in Leeds.

Chartpak Inc. said it needs the additional space due to increased sales, and expects to create 10 new jobs in the next three years. Right now, Chartpak says it has about 150 employees.

The company’s two current locations are at 1 River Road in Leeds and 24 Spring St. in Florence.

According to its website, Chartpak makes 11,000 different products for markets including fine art, stationery, crafts and hobbies, office supplies and fine writing instruments. Chartpak products “have been used in the fabric of American creativity from the likes of Norman Rockwell to NASA,” the website reads.

MassDevelopment, the state’s development finance agency, issued a $1.8 million industrial revenue bond on behalf of a Chartpak affiliate called Eric Properties, which will own the 82,000-square-foot building and lease space to Chartpak and two unrelated manufacturing companies.

Country Bank purchased the tax-exempt bond.

“We are so happy that Chartpak will be growing jobs and expanding their business in western Massachusetts, especially after the economic impact of the global pandemic,” said MassDevelopment President and CEO Dan Rivera in a statement. “MassDevelopment is proud to play a small supporting role in Chartpak’s success.”

Chartpak was founded in Connecticut in 1949 and moved to Northampton in 1957. Steven Roth, now the company’s president, bought Chartpak in 1993. Since then, the company has made major investments in acquisitions, machinery and employees.

The new Chartpak location at 120 River Road is also home to the vehicle repair shop David’s Auto. Owner David Rondina said he has signed a long-term lease to stay there.

MassDevelopment said that in fiscal 2020, it financed or managed 341 projects, generating investment of more than $2.69 billion in the state economy. The projects are estimated to create or support nearly 11,000 jobs.

Brian Steele can be reached at bsteele@gazettenet.com.