LMI Aerospace announced plans to expand its St. Charles facility in Fountain Lakes and add 100 new local jobs in the next five years.
The company fabricates metal aerospace components, assemblies and engineering for the commercial aircraft and defense industries. LMI is headquartered in St. Charles, where more than 225 people are employed in the corporate offices and in the manufacturing assembly.
LMI will spend $4.3 million to add an additional 49,000 square feet facility to the current space. The expansion is driven by increased demand from commercial avaiation customers, said Ronald Saks, executive director of LMI Aerospace.
Saks said the company has expanded in nearly all of its locations across the country in the past several years.
"With increased assemblies coming to us through use of our engineering and manufacturing, St. Charles is benefiting," he said.
Construction has already begun on the additional office space. Saks said LMI won't take over the new assembly space for several months as a trucking company is currently in the space.
As additional work comes to the St. Charles assembly, they will start hiring for skilled manufacturing positions.
"It is a testament to the workforce here in St. Charles that when a global leader like LMI needed to expand they knew they could count on the hardworking men and women of Missouri to get that job done," said Gov. Jay Nixon, who spoke at a press conference Tuesday announcing the company's plans for expansion.
Nixon also said LMI Aerospace is eligible for an economic incentive package of $1.6 million from the state if it meets job creation and investment criteria in the Quality Jobs program, according to a press release.
St. Charles Director of Economic Development David Leezer said he's glad to see new companies come to St. Charles but it's also great when an existing company decides to stay and expand.
"This is LMI saying they like doing business in St. Charles and in Missouri and they want to keep doing business here," he said. "That's the best endorsement we could get from a business."