The company has previously said it would expand its local office if it was successful in its bid, which was mounted with German firm Rheinmetall Defence - which has three local employees - and Ottawa-headquarted EODC, among other companies. In addition, Textron has a memorandum of understanding with local firm Calian Technologies.
As the prime contractor, Textron will lead the TAPV project, act as the design authority for change management, coordinate the vehicle integration activities of Canadian subcontracts, manage the in-service support contract and implement the industrial and regional benefits program.
The company says the contract has a value of $603.4 million, with an additional five-year in-service support contract of $105.4 million.
The first vehicle is scheduled to be delivered to the Canadian Army in July 2014.
"The Textron TAPV will deliver an unmatched blend of survivability, crew protection, power, mobility and payload versatility," said Textron general manager Neil Rutter in a statement.
Textron's global headquarters are in Providence, RI. The company started as a textile firm in 1923 before growing into diversified defence, industrial and finance firm with US$11.3 billion in revenues, according to its website.
The TAPV contract attracted the interest of several Ottawa defence firms, including Thales Canada and DEW Engineering & Development ULC, which had signed teaming agreements with BAE Systems.
Additionally, Allen Vanguard had hoped to work on blast mitigation seats.
See also: Military vehicle industry ready to roll