Kestrel Aircraft Co. is creating up to 300 jobs and investing $100 million in the coming years in Brunswick, Maine, the Kennebec Journal reports. The aviation company will be located at the Brunswick Naval Air Station, which will be decommissioned in May 2011.

The area's productive work force attracted the company to the location, said Kestrel CEO Alan Klapmeier. The company will build a composite turboprop aircraft at the facility.

The Midcoast Regional Redevelopment has already approved the company's lease agreement. Kestrel will create 50 to 70 engineering jobs to support certification of the new aircraft.

The state of Maine is extending Kestrel a $10 million economic development bond for startup costs. The company is also applying for tax benefits under the state's Pine Tree Zone program.