MO: LMI Aerospace to Expand in Franklin County, Create 60 Jobs
12 May, 2016
Missouri Department of Economic Development announced LMI Aerospace’s plans to expand its machining operation in the city of Washington, which is expected to create 60 new jobs over the next three years. The project is valued at more than $17.5 million, including approximately $3 million in building improvements and the remainder in equipment investments.
Headquartered in St. Charles, Mo., LMI Aerospace is a leader in providing aerostructures, systems and components to the commercial, business and regional and military aerospace markets. With 22 locations around the globe, the company serves some of the world’s largest aerospace firms. To keep up with demand, the company plans to expand the Washington facility by one-third to approximately 120,000 square feet. LMI expects to break ground the second half of this year and complete the expansion in 2017, with the goal to be operational in the first quarter of 2017. The company will purchase new equipment to retool the facility over the next three years.
Advanced manufacturing is one of the key industries identified in Gov. Jay Nixon’s Strategic Initiative for Economic Growth (SIEG), which celebrated its five-year anniversary last month. Since 2010, advanced manufacturing employment has grown by 19,717 jobs, and aerospace employment has grown by 3,121 jobs, according to the latest annual figures available through 2014.
LMI Aerospace also benefits from Franklin County’s highly-skilled workforce. The county was the second in Missouri and the nation to achieve maintained status in the Certified Work Ready Community (CWRC) program in 2015, an initiative that aligns workforce training programs to meet the needs of the business community.
To assist LMI Aerospace with its expansion in Missouri, the Missouri Department of Economic Development has offered a strategic economic incentive package that the company can receive if it meets strict job creation criteria. The city of Washington and Franklin County are also key partners that assisted with this expansion.