diff --git a/Sources/Build/BuildDescription/SwiftModuleBuildDescription.swift b/Sources/Build/BuildDescription/SwiftModuleBuildDescription.swift
index de958a7d370..3e6dcd88ca4 100644
--- a/Sources/Build/BuildDescription/SwiftModuleBuildDescription.swift
+++ b/Sources/Build/BuildDescription/SwiftModuleBuildDescription.swift
@@ -127,7 +127,11 @@ public final class SwiftModuleBuildDescription {
 
     var modulesPath: AbsolutePath {
         let suffix = self.buildParameters.suffix
-        return self.buildParameters.buildPath.appending(component: "Modules\(suffix)")
+        var path = self.buildParameters.buildPath.appending(component: "Modules\(suffix)")
+        if self.windowsTargetType == .dynamic {
+            path = path.appending("dynamic")
+        }
+        return path
     }
 
     /// The path to the swiftmodule file after compilation.
@@ -264,6 +268,19 @@ public final class SwiftModuleBuildDescription {
     /// Whether to disable sandboxing (e.g. for macros).
     private let shouldDisableSandbox: Bool
 
+    /// For Windows, we default to static objects and but also create objects
+    /// that export symbols for DLLs. This allows library targets to be used
+    /// in both contexts
+    public enum WindowsTargetType {
+        case `static`
+        case dynamic
+    }
+    /// The target type. Leave nil for non-Windows behavior.
+    public let windowsTargetType: WindowsTargetType?
+
+    /// The corresponding target for dynamic library export (i.e., not -static)
+    public private(set) var windowsDynamicTarget: SwiftModuleBuildDescription? = nil
+
     /// Create a new target description with target and build parameters.
     init(
         package: ResolvedPackage,
@@ -319,6 +336,14 @@ public final class SwiftModuleBuildDescription {
             observabilityScope: observabilityScope
         )
 
+        if buildParameters.triple.isWindows() {
+            // Default to static and add another target for DLLs
+            self.windowsTargetType = .static
+            self.windowsDynamicTarget = .init(windowsExportFor: self)
+        } else {
+            self.windowsTargetType = nil
+        }
+
         if self.shouldEmitObjCCompatibilityHeader {
             self.moduleMap = try self.generateModuleMap()
         }
@@ -340,6 +365,31 @@ public final class SwiftModuleBuildDescription {
         try self.generateTestObservation()
     }
 
+    /// Private init to set up exporting version of this module
+    private init(windowsExportFor parent: SwiftModuleBuildDescription) {
+        self.windowsTargetType = .dynamic
+        self.windowsDynamicTarget = nil
+        self.tempsPath = parent.tempsPath.appending("dynamic")
+
+        // The rest of these are just copied from the parent
+        self.package = parent.package
+        self.target = parent.target
+        self.swiftTarget = parent.swiftTarget
+        self.toolsVersion = parent.toolsVersion
+        self.buildParameters = parent.buildParameters
+        self.macroBuildParameters = parent.macroBuildParameters
+        self.derivedSources = parent.derivedSources
+        self.pluginDerivedSources = parent.pluginDerivedSources
+        self.pluginDerivedResources = parent.pluginDerivedResources
+        self.testTargetRole = parent.testTargetRole
+        self.fileSystem = parent.fileSystem
+        self.buildToolPluginInvocationResults = parent.buildToolPluginInvocationResults
+        self.prebuildCommandResults = parent.prebuildCommandResults
+        self.observabilityScope = parent.observabilityScope
+        self.shouldGenerateTestObservation = parent.shouldGenerateTestObservation
+        self.shouldDisableSandbox = parent.shouldDisableSandbox
+    }
+
     private func generateTestObservation() throws {
         guard target.type == .test else {
             return
@@ -519,6 +569,18 @@ public final class SwiftModuleBuildDescription {
             args += ["-parse-as-library"]
         }
 
+        switch self.windowsTargetType {
+            case .static:
+                // Static on Windows
+                args += ["-static"]
+            case .dynamic:
+                // Add the static versions to the include path
+                // FIXME: need to be much more deliberate about what we're including
+                args += ["-I", self.modulesPath.parentDirectory.pathString]
+            case .none:
+                break
+        }
+
         // Only add the build path to the framework search path if there are binary frameworks to link against.
         if !self.libraryBinaryPaths.isEmpty {
             args += ["-F", self.buildParameters.buildPath.pathString]
diff --git a/Sources/Build/BuildManifest/LLBuildManifestBuilder+Swift.swift b/Sources/Build/BuildManifest/LLBuildManifestBuilder+Swift.swift
index 11668bbe1b3..73a96bb4140 100644
--- a/Sources/Build/BuildManifest/LLBuildManifestBuilder+Swift.swift
+++ b/Sources/Build/BuildManifest/LLBuildManifestBuilder+Swift.swift
@@ -53,6 +53,16 @@ extension LLBuildManifestBuilder {
             )
         } else {
             try self.addCmdWithBuiltinSwiftTool(target, inputs: inputs, cmdOutputs: cmdOutputs)
+            if let dynamicTarget = target.windowsDynamicTarget {
+                // Generate dynamic module for Windows
+                let inputs = try self.computeSwiftCompileCmdInputs(dynamicTarget)
+                let objectNodes = dynamicTarget.buildParameters.prepareForIndexing == .off ? try dynamicTarget.objects.map(Node.file) : []
+                let moduleNode = Node.file(dynamicTarget.moduleOutputPath)
+                let cmdOutputs = objectNodes + [moduleNode]
+                try self.addCmdWithBuiltinSwiftTool(dynamicTarget, inputs: inputs, cmdOutputs: cmdOutputs)
+                self.addTargetCmd(dynamicTarget, cmdOutputs: cmdOutputs)
+                try self.addModuleWrapCmd(dynamicTarget)
+            }
         }
 
         self.addTargetCmd(target, cmdOutputs: cmdOutputs)
@@ -532,7 +542,7 @@ extension LLBuildManifestBuilder {
             inputs: cmdOutputs,
             outputs: [targetOutput]
         )
-        if self.plan.graph.isInRootPackages(target.target, satisfying: target.buildParameters.buildEnvironment) {
+        if self.plan.graph.isInRootPackages(target.target, satisfying: target.buildParameters.buildEnvironment), target.windowsTargetType != .dynamic {
             if !target.isTestTarget {
                 self.addNode(targetOutput, toTarget: .main)
             }
@@ -636,6 +646,11 @@ extension SwiftModuleBuildDescription {
     }
 
     public func getLLBuildTargetName() -> String {
-        self.target.getLLBuildTargetName(buildParameters: self.buildParameters)
+        let name = self.target.getLLBuildTargetName(buildParameters: self.buildParameters)
+        if self.windowsTargetType == .dynamic {
+            return "dynamic." + name
+        } else {
+            return name
+        }
     }
 }
diff --git a/Sources/Build/BuildPlan/BuildPlan+Product.swift b/Sources/Build/BuildPlan/BuildPlan+Product.swift
index 10fa8c6bc3b..c78da860236 100644
--- a/Sources/Build/BuildPlan/BuildPlan+Product.swift
+++ b/Sources/Build/BuildPlan/BuildPlan+Product.swift
@@ -101,7 +101,18 @@ extension BuildPlan {
 
         buildProduct.staticTargets = dependencies.staticTargets.map(\.module)
         buildProduct.dylibs = dependencies.dylibs
-        buildProduct.objects += try dependencies.staticTargets.flatMap { try $0.objects }
+        buildProduct.objects += try dependencies.staticTargets.flatMap {
+            if buildProduct.product.type == .library(.dynamic),
+                case let .swift(swiftModule) = $0,
+                let dynamic = swiftModule.windowsDynamicTarget,
+                buildProduct.product.modules.contains(id: swiftModule.target.id)
+            {
+                // On Windows, export symbols from the direct swift targets of the DLL product
+                return try dynamic.objects
+            } else {
+                return try $0.objects
+            }
+        }
         buildProduct.libraryBinaryPaths = dependencies.libraryBinaryPaths
         buildProduct.availableTools = dependencies.availableTools
     }
diff --git a/Sources/Build/BuildPlan/BuildPlan.swift b/Sources/Build/BuildPlan/BuildPlan.swift
index 23b83f89465..17f382ec366 100644
--- a/Sources/Build/BuildPlan/BuildPlan.swift
+++ b/Sources/Build/BuildPlan/BuildPlan.swift
@@ -537,6 +537,9 @@ public class BuildPlan: SPMBuildCore.BuildPlan {
             switch buildTarget {
             case .swift(let target):
                 try self.plan(swiftTarget: target)
+                if let dynamicTarget = target.windowsDynamicTarget {
+                    try self.plan(swiftTarget: dynamicTarget)
+                }
             case .clang(let target):
                 try self.plan(clangTarget: target)
             }
diff --git a/Sources/_InternalTestSupport/MockBuildTestHelper.swift b/Sources/_InternalTestSupport/MockBuildTestHelper.swift
index ef9bdf7ce55..339d56a502d 100644
--- a/Sources/_InternalTestSupport/MockBuildTestHelper.swift
+++ b/Sources/_InternalTestSupport/MockBuildTestHelper.swift
@@ -66,6 +66,8 @@ extension Basics.Triple {
     public static let arm64Linux = try! Self("aarch64-unknown-linux-gnu")
     public static let arm64Android = try! Self("aarch64-unknown-linux-android")
     public static let windows = try! Self("x86_64-unknown-windows-msvc")
+    public static let x86_64Windows = try! Self("x86_64-unknown-windows-msvc")
+    public static let arm64Windows = try! Self("aarch64-unknown-windows-msvc")
     public static let wasi = try! Self("wasm32-unknown-wasi")
     public static let arm64iOS = try! Self("arm64-apple-ios")
 }
diff --git a/Tests/BuildTests/WindowsBuildPlanTests.swift b/Tests/BuildTests/WindowsBuildPlanTests.swift
new file mode 100644
index 00000000000..4672091d051
--- /dev/null
+++ b/Tests/BuildTests/WindowsBuildPlanTests.swift
@@ -0,0 +1,165 @@
+//===----------------------------------------------------------------------===//
+//
+// This source file is part of the Swift open source project
+//
+// Copyright (c) 2014-2024 Apple Inc. and the Swift project authors
+// Licensed under Apache License v2.0 with Runtime Library Exception
+//
+// See http://swift.org/LICENSE.txt for license information
+// See http://swift.org/CONTRIBUTORS.txt for the list of Swift project authors
+//
+//===----------------------------------------------------------------------===//
+
+import XCTest
+
+import Basics
+@testable import Build
+import LLBuildManifest
+import _InternalTestSupport
+
+@_spi(DontAdoptOutsideOfSwiftPMExposedForBenchmarksAndTestsOnly)
+import PackageGraph
+
+final class WindowsBuildPlanTests: XCTestCase {
+    // Tests that our build plan is build correctly to handle separation
+    // of object files that export symbols and ones that don't and to ensure
+    // DLL products pick up the right ones.
+
+    func doTest(triple: Triple) async throws {
+        let fs = InMemoryFileSystem(emptyFiles: [
+            "/libPkg/Sources/coreLib/coreLib.swift",
+            "/libPkg/Sources/dllLib/dllLib.swift",
+            "/libPkg/Sources/staticLib/staticLib.swift",
+            "/libPkg/Sources/objectLib/objectLib.swift",
+            "/exePkg/Sources/exe/main.swift",
+        ])
+
+        let observability = ObservabilitySystem.makeForTesting()
+
+        let graph = try loadModulesGraph(
+            fileSystem: fs,
+            manifests: [
+                .createFileSystemManifest(
+                    displayName: "libPkg",
+                    path: "/libPkg",
+                    products: [
+                        .init(name: "DLLProduct", type: .library(.dynamic), targets: ["dllLib"]),
+                        .init(name: "StaticProduct", type: .library(.static), targets: ["staticLib"]),
+                        .init(name: "ObjectProduct", type: .library(.automatic), targets: ["objectLib"]),
+                    ],
+                    targets: [
+                        .init(name: "coreLib", dependencies: []),
+                        .init(name: "dllLib", dependencies: ["coreLib"]),
+                        .init(name: "staticLib", dependencies: ["coreLib"]),
+                        .init(name: "objectLib", dependencies: ["coreLib"]),
+                    ]
+                ),
+                .createRootManifest(
+                    displayName: "exePkg",
+                    path: "/exePkg",
+                    dependencies: [.fileSystem(path: "/libPkg")],
+                    targets: [
+                        .init(name: "exe", dependencies: [
+                            .product(name: "DLLProduct", package: "libPkg"),
+                            .product(name: "StaticProduct", package: "libPkg"),
+                            .product(name: "ObjectProduct", package: "libPkg"),
+                        ]),
+                    ]
+                )
+            ],
+            observabilityScope: observability.topScope
+        )
+
+        let label: String
+        let dylibPrefix: String
+        let dylibExtension: String
+        let dynamic: String
+        switch triple {
+        case Triple.x86_64Windows:
+            label = "x86_64-unknown-windows-msvc"
+            dylibPrefix = ""
+            dylibExtension = "dll"
+            dynamic = "/dynamic"
+        case Triple.x86_64MacOS:
+            label = "x86_64-apple-macosx"
+            dylibPrefix = "lib"
+            dylibExtension = "dylib"
+            dynamic = ""
+        case Triple.x86_64Linux:
+            label = "x86_64-unknown-linux-gnu"
+            dylibPrefix = "lib"
+            dylibExtension = "so"
+            dynamic = ""
+        default:
+            label = "fixme"
+            dylibPrefix = ""
+            dylibExtension = ""
+            dynamic = ""
+        }
+
+        let tools: [String: [String]] = [
+            "C.exe-\(label)-debug.exe": [
+                "/path/to/build/\(label)/debug/coreLib.build/coreLib.swift.o",
+                "/path/to/build/\(label)/debug/exe.build/main.swift.o",
+                "/path/to/build/\(label)/debug/objectLib.build/objectLib.swift.o",
+                "/path/to/build/\(label)/debug/staticLib.build/staticLib.swift.o",
+                "/path/to/build/\(label)/debug/\(dylibPrefix)DLLProduct.\(dylibExtension)",
+                "/path/to/build/\(label)/debug/exe.product/Objects.LinkFileList",
+            ] + (triple.isMacOSX ? [] : [
+                // modulewrap
+                "/path/to/build/\(label)/debug/coreLib.build/coreLib.swiftmodule.o",
+                "/path/to/build/\(label)/debug/exe.build/exe.swiftmodule.o",
+                "/path/to/build/\(label)/debug/objectLib.build/objectLib.swiftmodule.o",
+                "/path/to/build/\(label)/debug/staticLib.build/staticLib.swiftmodule.o",
+            ]),
+            "C.DLLProduct-\(label)-debug.dylib": [
+                "/path/to/build/\(label)/debug/coreLib.build/coreLib.swift.o",
+                "/path/to/build/\(label)/debug/dllLib.build\(dynamic)/dllLib.swift.o",
+                "/path/to/build/\(label)/debug/DLLProduct.product/Objects.LinkFileList",
+            ] + (triple.isMacOSX ? [] : [
+                "/path/to/build/\(label)/debug/coreLib.build/coreLib.swiftmodule.o",
+                "/path/to/build/\(label)/debug/dllLib.build/dllLib.swiftmodule.o",
+            ])
+        ]
+
+        let plan = try await BuildPlan(
+            destinationBuildParameters: mockBuildParameters(
+                destination: .target,
+                triple: triple
+            ),
+            toolsBuildParameters: mockBuildParameters(
+                destination: .host,
+                triple: triple
+            ),
+            graph: graph,
+            fileSystem: fs,
+            observabilityScope: observability.topScope
+        )
+
+        let llbuild = LLBuildManifestBuilder(
+            plan,
+            fileSystem: fs,
+            observabilityScope: observability.topScope
+        )
+        try llbuild.generateManifest(at: "/manifest")
+
+        for (name, inputNames) in tools {
+            let command = try XCTUnwrap(llbuild.manifest.commands[name])
+            XCTAssertEqual(Set(command.tool.inputs), Set(inputNames.map({ Node.file(.init($0)) })))
+        }
+    }
+
+    func testWindows() async throws {
+        try await doTest(triple: .x86_64Windows)
+    }
+
+    // Make sure we didn't mess up macOS
+    func testMacOS() async throws {
+        try await doTest(triple: .x86_64MacOS)
+    }
+
+    // Make sure we didn't mess up linux
+    func testLinux() async throws {
+        try await doTest(triple: .x86_64Linux)
+    }
+}