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A vacant industrial building in Lynn will be updated to become the new home of a manufacturer that supplies heated gloves and boots to the U.S. military.

Soliyarn Inc. will acquire and renovate 23 Farrar St. for its new 18,000-square-foot headquarters and production facility.

MassDevelopment issued a $3.3 million guaranteed, tax-exempt bond which was purchased by Reading Cooperative Bank.

The Massachusetts Manufacturing Innovation Initiative awarded Soliyarn $1.5 million last year to expand its manufacturing capacity for water-repellent textiles that don’t contain perfluorinated chemicals, which have been tied to environmental and human health risks.

In May 2022, Soliyarn struck a deal with South Korean manufacturer Huvis Global and military equipment distributor ADS Inc. for expansion.

Currently located in Charlestown and Boston’s North End, Soliyarn will create 84 full-time jobs in the next three years at the Lynn property, MassDevelopment announced.

Built in 1940, the property is the former home of Sterling Machine Co.