Car component manufacturer Sertec Group plans to take on 400 additional people over the next four years.
The jobs will be based at the firm's new component assembly hall at Wincaster House, Coleshill, Birmingham, former HQ of failed telecomms firm Greenwoods Communications, and its newly-expanded pressings facility nearby.
The company was given the manufacturing prize at this year's Birmingham Post Business Awards held at Edgbaston Stadium in October.
Speaking at the company's Coleshill head office, Chancellor George Osborne set out what he believed was the economic choice facing Britain in 2014. He also explained the five components of the government's long-term economic plan "to build a stronger, more competitive economy".
The Chancellor said this was the year of hard truths: "The year when Britain faces a choice. Do we say the worst is over; back we go to our bad habits of borrowing and spending and living beyond our means – and let the next generation pay the bill?
"Or do we say to ourselves yes, because of our plan, things are getting better. But there is still a long way to go – and there are big, underlying problems we have to fix in our economy. More repairs. More cuts. More difficult decisions."
He added that the five components of his long-term economic plan to build a stronger, more competitive, economy to secure a better future for hard-working families and future generations by cutting the deficit, reducing taxes, creating more jobs, ?capping immigration and welfare, and delivering the best schools and skills.