The engineering firm Corvid Technologies announced Tuesday it will spend $28.9 million to expand its headquarters in Mooresville, where the company plans to add 367 new jobs over the next 12 years.
In a statement released through Gov. Roy Cooper's office, Corvid said its project will include two three-story buildings, a data center for high-performance computing, a mechanics lab and a prototyping lab, all on Corvid's campus off Transco Road near Interstate 77.
In exchange for the local expansion, Corvid is receiving a state incentive package of just over $9 million to be distributed over the next 12 years. The Job Development Investment Grant (JDIG) was approved by the state’s Economic Investment Committee earlier Tuesday, Cooper's office said.
State payments to the company will only occur after performance verification by the Departments of Commerce and Revenue that the company has met its job creation and investment targets, Cooper's office added.
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Founded in Mooresville in 2004, Corvid provides computational physics analysis to customers in the Defense Department, including Missile Defense Agency, Navy, Army, Air Force, Marines and Special Operations Command. The company also supports ongoing projects for customers in other fields, such as motorsports and U.S. Olympic teams.
The company has satellite offices in Washington, D.C., and Huntsville, Ala., according to Bloomberg.
"The business-friendly climate at the local, county, and state level combined with access to premier engineering talent coming out of the nearby university systems were all major factors in our decision to locate the company headquarters in the area," Corvid CEO David Robinson said in a statement.
Corvid said its Mooresville expansion is intended to position the company to recruit engineers and scientists from top research universities throughout the Carolinas, including N.C. State University, UNC-Chapel Hill, Duke and Clemson.
“North Carolina is the perfect choice for Corvid, thanks to our world-class universities, major military installations, and highly skilled workers,” Cooper said.
A Corvid representative could not immediately be reached for comment.