DANBURY — Praxair is staying put.

The industrial gases company turned down offers to relocate to New York and Texas to keep its headquarters in Danbury, and is investing $65 million in a 100,00 square-foot expansion to its facility there.

This move will maintain 535 workers statewide, with growth of up to 120 jobs expected over the next five years. The company employs 27,000 people worldwide and operates in 50 countries.

The state Department of Economic & Community Development (DECD) is assisting Praxair with a $10 million loan, and the company is also eligible for more than $20 million in additional tax credits.

The company also recently announced plans to expand its nitrogen production capacity over the next two years at its Kirtland, N.M. facility to more than 800 tons of liquid nitrogen per day, more than triple its current storage capacity.