The Nova Scotia government says it will provide up to 20 per cent or $13.4 million of the costs of the project.
A spokeswoman for the government says the subsidy will only be provided after the company makes its investment.
The company says the investment will allow it to build components of its new PurePower PW800 engines and upgrade its engine blade manufacturing facility.
The government says the plant employs about 350 full-time staff and puts about $25 million per year into Nova Scotia's economy.
Pratt & Whitney Canada, a subsidiary of United Technologies Corp., established its Enfield facility in 1985.