LMI Aerospace Expands Machining Complex In Washington, Missouri
The project is valued at more than $17.5 million, including approximately $3 million in building improvements and the remainder in equipment investments, according to Missouri Department of Economic Development.
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.
LMI Aerospace will benefit from Franklin County’s highly-skilled workforce, state economic development officials said. 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.
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