Lockheed Martin announced plans on Friday to build a new 225,000 square foot facility in Titusville as part of a $383 million contract modification with the U.S. Navy to upgrade the Trident II D5 missile.

The new site will manufacture components for the Trident II D5 Life Extension 2 (D5LE2) missile and is expected to begin operations in 2027, creating approximately 300 high-skilled jobs.

“Strategic investments like this continue to propel Florida’s workforce, adding 300 new jobs and bringing economic success to Florida communities,” said said Florida Secretary of Commerce J. Alex Kelly.

Under the terms of the contract, Lockheed Martin will design and produce the D5LE2 missile, an upgraded version of the ballistic missile currently deployed on U.S. and U.K. submarines. The new missile will be integrated into the Columbia-class submarines, ensuring that the U.S. Navy’s sea-based deterrence remains operational and effective through 2084.

“The second life extension of the Trident D5 missile will enable the United States and United Kingdom, through the Polaris Sales Agreement, to maintain credibility deterring evolving threats,” said Jerry Mamrol, vice president of Fleet Ballistic Missiles at Lockheed Martin. “We are proud to continue our critical partnership with the U.S. Navy to take deterrence into this new era.”