Company officials made the announcement on Monday in Savannah with Gov. Sonny Perdue.
Gulfstream is expanding its facilities at the Savannah-Hilton Head International Airport and will also renovate several existing facilities on its main campus.
It will be Gulfstream's second major expansion in the last five years.
Gulfstream President Joe Lombardo said the expansion "is necessary to meet the industry's projected increase for new business-jet aircraft and the maintenance that will follow."
A subsidiary of General Dynamics, Gulfstream designs, develops and services advanced business-jet aircraft.