Updated 1:47 p.m. CST April 29, 2015

A Texas-based ammunition manufacturer is moving its headquarters to Pflugerville and will create up to 50 full-time jobs within five years, the Pflugerville Community Development Corp. announced Wednesday.

Precision Ammunition, currently headquartered in Argyle, produces tens of millions of rounds of ammunition including the most popular ammunition round—the .22 caliber long rifle ammunition, said PCDC Executive Director Floyd Akers.

Precision CEO Matt Campbell said his company considered offers from several other states and Texas cities before deciding to relocate to Pflugerville.

"Everyone wants this product. We got calls from all over the state to relocate there," Campbell said. "[But Pflugerville] was centrally located in Texas and the labor force was here and had [gun retailers nearby]."

To incentivize Precision's move to Pflugerville, the PCDC offered $175,000 in moving expenses, $155,000 in new equipment, $3,000 per employee up to 50 employees and a guaranteed line of credit for components up to $950,000, according to the PCDC.

Precision is planning to have operations up and running by the summer and supply ammunition for local retailers such as Walmart, Dick's Sporting Goods and Red's, according to the PCDC.