October 10, 2012
LMI Aerospace to make $4.3 million capital investment to expand current corporate headquarters and manufacturing facilities over next five years
Global aerospace manufacturer to significantly expand operations in St. Charles, plans to create 100 new jobs, Gov. Nixon announces
ST. CHARLES, Mo. - A leading provider of components, assemblies and engineering services to the aerospace, defense and technology industries plans to expand its corporate headquarters and manufacturing facilities in St. Charles, Gov. Jay Nixon announced today.
Gov. Jay Nixon speaks after visiting LMI Aerospace in St. Charles, Mo. on October 10, 2012. Nixon toured the facility that provides engineering services to the aerospace, defense and technology industries.
LMI Aerospace is embarking upon a significant expansion because of an increased demand for its services, and is adding nearly 49,000 square-feet of new headquarters and manufacturing space in St. Charles. The company's planned capital investment of $4.3 million is expected to create approximately 100 new local jobs over the next five years. The Governor made the announcement today at LMI Aerospace's headquarters in St. Charles, where he was joined by company and community leaders.
"Missouri's workforce is trained and ready for the advanced manufacturing jobs of tomorrow, which is why industry leaders like LMI Aerospace choose the Show-Me State to grow their business and create jobs," Gov. Nixon said. "Missouri's stable and positive business climate is helping to move our economy forward, while creating jobs and prosperity for more Missourians."
The Missouri Department of Economic Development recently reported that 17,900 new jobs were created in Missouri during August, while the state's unemployment rate of 7.2 percent has remained below the national unemployment rate for 36 consecutive months. Missouri employers have now created more than 46,000 new jobs during 2011 and 2012-to-date combined.
To assist LMI Aerospace in moving forward with its growth plans, the company could be eligible for a strategic economic incentive package from the State of Missouri if it meets the strict job creation and investment criteria of each program.
"We've fought to keep Missouri the best place in the Midwest to start, locate or expand a business," Gov. Nixon said. "We will continue to hold the line on taxes, balance the budget, and focus on job creation to keep our economy moving forward."
LMI Aerospace is a leading provider of structural components, kits, assemblies and engineering services to the aerospace, defense and technology industries. Founded in 1948, the company fabricates, machines and finishes aluminum, specialty alloy components and sheet metal products primarily for large commercial, corporate and military aircraft. LMI Aerospace manufactures more than 30,000 products for integration into a variety of aircraft platforms that are manufactured by leading original equipment manufacturers and aerospace suppliers. The company has approximately 1,600 employees in 17 locations in the U.S. and Mexico.