The United States says it will provide combat aircraft to the Saudi air force under a new agreement valued at $29.4 billion.

In a statement Thursday, the White House said the U.S. and Saudi governments signed an agreement for the U.S. to provide advanced F-15SA combat aircraft to the Royal Saudi Air Force.

It says the agreement includes the production of 84 new aircraft and the modernization of 70 existing aircraft. It says the Boeing aircraft are “among the most sophisticated and capable aircraft in the world.”

The White House cites industry experts saying the agreement to sell the jets will support more than 50,000 American jobs, use hundreds of suppliers throughout the country, and provide $3.5 billion in annual economic impact to the U.S. economy.

It says the agreement “reinforces the strong and enduring relationship” between the two countries and demonstrates the U.S. commitment to a strong Saudi defense capability as a “key component to regional security.”