Tewksbury's economic development took another step forward with the announcement that Wilmington-based Floorcraft planned to relocate to Tewksbury by early 2013.

On Aug. 20, Floorcraft owners Bob Landini and Tracy Venuti finalized a deal to purchase an industrial building at 19 Barker Road for $1,625,000. The seller was Flauto Realty Trust, Theodore C. Chen, Trustee.

The 32,160-square-foot building sits on a three-acre lot and is divided into two commercial spaces. One space is occupied by Beacon Electrical Wholesalers, who will stay on as a tenant. Floorcraft will move into the adjacent 17,500 square-foot space, which has been vacant for several years.

The new space is offers more than twice the square footage as Floorcraft's present location at 65 Industrial Way, Wilmington.

"We're in about 8,000 square feet now," said Landini. "Our business has been growing steadily and we've been looking for a larger space for several years. This building is exactly what we're looking for."

Floorcraft is a commercial/industrial flooring and carpeting contractor. According to Landini, the company has been in existence 25 years and employs 25-30 people, depending on busy they are. Landini said he is hoping that the additional space will allow the company to take on more contracts, which will lead to the hiring of additional employees.

Landini said it will likely be 2-4 months before his company can officially relocate to Tewksbury.

"There are some renovations on the space that we have to do before we can move," he said.

Floorcraft was represented in the purchase of the Barker Road property by Edward Carbone of Carbone Commercial Real Estate in Woburn.