Long range projection neurons of the cerebral cortex provide multimodal integration via connectivity between distant areas of the brain, thus are critical for sensory integration, motor processing, and higher cognitive function. During development, distinct subtypes of cortical projection neurons extend their axons to widely distinct areas within the cortex and beyond, sometimes projecting multiple axons simultaneously with precision to several target regions. Correct connectivity is achieved via axon guidance implemented by a growth cone (GC) at the leading tip of each axon. Prior work has identified that local protein synthesis of axonally-trafficked transcripts is required for directional responses to at least some guidance cues, but how distinct subtype- and projection-specific GCs establish, maintain, and regulate their subtype-specific subcellular molecular machinery is essentially unknown. Here we investigate the composition and dynamic regulation of subcellular transcriptomes of two subtypes of cortical projection neurons, with distinct connectivity and function. We compare GC-localized transcriptomes between interhemispheric, callosal projection neurons and corticothalamic projection neurons and across developmental stages, and find pronounced overlap, likely reflecting shared subcellular machinery. Intriguingly, we find that GC-localized transcriptomes of these subtypes of projection neurons are enriched for genes associated with neurodevelopmental and neuropsychiatric diseases. We then focus on context-specific portions of GC-localized transcriptomes, and identify known and novel potential regulators of distinct phases of circuit development: long-distance growth, gray matter innervation, and synapse formation. Next, we investigate mechanisms by which transcripts are enriched in GCs and dynamically regulated, and find evidence for GC-enriched motifs in 3 prime untranslated regions. As an exemplar, we identify cytoplasmic adenylation element binding protein 4 (CPEB4) as potentially regulating localization and translation of mRNAs encoding molecular machinery important for axonal branching and complexity. Additionally, we identify RNA binding motif single stranded interacting protein 1 (RBMS1) as a dynamically expressed regulator of RNA stabilization that enables successful callosal circuitry formation. Elucidation of context-specific subcellular RNA localization, and likely stability, is a critical advance toward a mechanistic understanding of local GC processes involved in circuit development, maintenance, and function. Even subtle changes in the precision of associative and integrative cortical circuits can have pronounced effects on cortical function, and lead to neurodevelopmental and neuropsychiatric disorders. Thus, integrated knowledge of GC- and soma-localized molecular controls involved in circuit formation will be necessary to fully understand the etiologies of these diseases and enable targeted therapeutics.