Corvid Technologies is planning a major expansion in Mooresville that will add hundreds of jobs to the Charlotte region’s advanced manufacturing economy.

The employee-owned defense contractor will invest $95 million in its Iredell County campus and create 423 jobs, according to state economic development officials.

The project includes a new 400,000-square-foot advanced manufacturing facility that will add engineering and production capacity for vehicle launch systems.

New positions are expected to include assemblers, electricians, engineers, production managers, technicians and testers.

The projected average annual salary is $81,550, above Iredell County’s current average wage.

For the Lake Norman area, the expansion is notable for both its size and the type of work it brings.

Corvid began in 2004 as a small modeling and simulation company and has expanded into digital engineering, testing, prototyping and precision manufacturing.

The state approved a performance-based Job Development Investment Grant that could reimburse the company up to about $4.45 million over 12 years if hiring and investment targets are met.

State officials estimate the project could add roughly $34.5 million in annual payroll to the region.

The bigger picture: Charlotte’s northern suburbs continue attracting high-skill engineering and manufacturing work alongside the region’s better-known finance and logistics sectors.