Today, the 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.