Jobs created in Dungannon and Portadown, lost in Belfast and Ballymena
Up to 114 jobs are being created at two companies in Dungannon and Portadown.
Dungannon company EDGE Innovate is creating 84 jobs through a £3.4m expansion.
The company designs and manufactures a range of equipment used in the recycling, materials handling and quarrying industries.
Meanwhile, up to 30 jobs are being created in a £6m investment at an engineering firm in Portadown, County Armagh.
JW Kane Precision Engineering is expanding its manufacturing space and buying new equipment.
The company makes parts for aeroplanes and its clients include Bombardier, Thales and BE Aeorspace.
However, the wholesalers Musgrave has said it will close its sites in Ballymena and Hillview in Belfast with the loss of 26 jobs.
In a statement, Musgrave Wholesale Partners said that they would close both outlets. Aside from the job losses 19 posts are being transferred to the company's site in Duncrue, Belfast.
The firm blamed "one of the toughest environments in living memory" and said it needed to consolidate its network.
Enterprise Minister Arlene Foster announced the investments in Dungannon and Portadown.
Of the EDGE Innovate investment she said: "EDGE Innovate operates within an important industry for Northern Ireland and its investment not only adds to County Tyrone's international standing in the materials handling sector but will provide skilled jobs across a range of positions in this rural area."
She said JW Kane was one of Northern Ireland's "foremost aerospace-focused precision engineering companies".
"This investment marks the next step on its journey to becoming part of the global aerospace supply chain," she said.
Invest Northern Ireland is giving JW Kane £900,000 and EDGE £421,500 in support funding.