Gov. Rick Scott announced Wednesday that Lockheed Martin will add 500 jobs and spend nearly $50 million upgrading and expanding their Orlando facilities.

The new jobs and building will head to the company’s Missiles and Fire Control plant, which handles the development of the targeting system for the F-35 stealth jet among other projects.

The new jobs will pay an average of $87,000 a year.

“I am proud to announce Lockheed Martin is continuing to invest in Florida by creating 500 new jobs as part of their expansion in Orlando. Lockheed Martin is already a major job creator for our state, and our commitment to cutting taxes and making Florida business-friendly is making it easier for this global business to continue to create thousands of opportunities for Florida families.”

Missiles and Fire Control VP Frank St. John said the expansion shows the company “is further solidifying its already robust presence in Florida and supporting our business growth.”

The announcement also got praise from local leaders, including Orlando Mayor Buddy Dyer, Orange County Mayor Teresa Jacobs and Tim Giuliani, president and CEO of the Orlando Economic Partnership.

“More than 60 years ago, Lockheed Martin opened its first location in Central Florida, planting the roots that have transformed Orlando into the innovative city it is today and solidifying Central Florida as the world’s epicenter for modeling, simulation and training,” Dyer said.

“We welcome the company’s continued investment in Orlando which is an example of our success in creating long-term partnerships that bring high quality jobs to residents, and is a testament to our dynamic business environment and our high quality of life.”

The announcement didn’t list what economic incentives Lockheed Martin would receive for the expansion, though last year Orange County and Florida agreed to a $3.5 million incentive package to spur the expansion.

Orange County is responsible for $700,000 of that total.

The Missiles and Fire Control division previously received $3.15 million in state incentives through a 2007 deal that required the company to add 230 jobs and make $100 million in capital investments. That commitment was successfully completed in 2009 according to Florida Department of Economic Opportunity records.

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