09:07 AM EST, 03/03/2026 (MT Newswires) -- AeroVironment ( AVAV ) said Tuesday it intends to invest more than $30 million to expand its production operations in Albuquerque, New Mexico.

The investment will be supported by $5 million from the State of New Mexico and $1 million from Albuquerque, the company said, adding that it plans to expand production at its three current facilities in the city.

The plans will further establish a vertically integrated manufacturing campus expected to generate more than $670 million in economic impact over the next 10 years and create more than 450 high-wage jobs, the company said.

AeroVironment ( AVAV ) shares were up about 4% in recent Tuesday premarket activity.