JEFFERSON CITY, Mo. (AP) — Bayer is closing its crop science division headquarters in North Carolina and moving 500 jobs to the St. Louis area.

Missouri Gov. Mike Parson announced the move Tuesday in his Capitol office.

Lisa Safarian, Bayer’s commercial operations-North America president, says the German pharmaceutical and life sciences company is closing its crop science division headquarters in the Raleigh area and moving to the St. Louis suburb of Creve Coeur, Missouri.

Bayer will get more than $44 million in Missouri economic development incentives from the move if it meets job and investment promises.

The company has agreed to $164 million in capital investments. It also pledged to keep 4,400 jobs in Missouri.

Safarian says there are about 5,000 current Bayer employees in Missouri. Bayer AG bought agricultural giant Monsanto Co. in June, 2018.