Missouri prepared to support Boeing as St. Louis County is considered for location of $1.8 billion expansion and creation of more than 500 new jobs
November 6, 2023
Jefferson City, Mo. — As St. Louis County is considered by Boeing as a location for a major expansion project, the State of Missouri is prepared to support the company and build on its longstanding partnership. The leading global aerospace company is Missouri’s largest manufacturer and has had a presence in the state for more than 80 years.
“We’re proud that Boeing, our state’s top manufacturer and a global leader in aerospace, is considering St. Louis County as the site of such a significant investment,” said Governor Mike Parson. “This company’s 80-year presence in the community is a testament to Missouri’s superior business climate and skilled workforce. We’re confident our state is the ideal location for Boeing’s next-generation expansion project and look forward to supporting the company as it finalizes its decision.”
Boeing’s potential expansion in St. Louis County would include a $1.8 billion investment and the creation of more than 500 new jobs. The Department of Economic Development is among multiple organizations working to support the aerospace company, which include St. Louis County, the City of St. Louis, Greater St. Louis, Inc., St. Louis Lambert International Airport, St. Louis Economic Development Partnership, St. Louis Development Corporation, Spire, and Ameren.
“We are incredibly pleased to be expanding both our team and the state-of-the-art technology as we build towards the future of advanced manufacturing in the state of Missouri,” said Steve Nordlund, Vice President and General Manager of Boeing Air Dominance division. “We have received great support from Governor Mike Parson and the Missouri Department of Economic Development, and we are grateful for their partnership in growing the footprint of the aerospace manufacturing industry in Missouri.”
Boeing’s manufacturing facility in St. Louis is the country’s second-largest defense contractor and a major manufacturer of innovative aircraft. More than 16,000 Missourians are involved in the production of advanced Boeing jets in St. Louis. Overall, the state is home to more than 100 aerospace manufacturers, with about 80,000 Missourians employed in aerospace and defense manufacturing.
“We’re excited for the next chapter of Boeing’s historic partnership with St. Louis as it drives growth for the region’s aerospace and defense industry,” said Michelle Hataway, Acting Director of the Department of Economic Development. “We appreciate the collaborative efforts of organizations supporting this world-class employer as it considers our state for this project. Economic development takes teamwork, and we’re proud to work alongside partners in securing this investment and helping Missourians prosper.”
To assist Boeing in its potential expansion, the Missouri Development Finance Board (MDFB) approved the use of the Business Use Incentives for Large-Scale Development (BUILD) Program. The company will also benefit from the Missouri Works Deal Closing Fund and Missouri One Start, the state’s premier workforce recruitment and training division.
Approved incentives amounts:
- BUILD Program - $8,849,162
- Missouri Works Deal Closing Fund - $20,375,491
- Missouri One Start - $8,500,000
About Boeing
As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company’s core values of safety, quality and integrity.
To learn more about Boeing, visit boeing.com.
About the Missouri Department of Economic Development
The Missouri Department of Economic Development (DED) works to create an environment that encourages economic growth by supporting Missouri’s businesses and diverse industries, strengthening our communities, developing a talented and skilled workforce, and maintaining a high quality of life. As one team built around the customer and driven by data, DED aspires to be the best economic development department in the Midwest. Through its various initiatives, DED is helping create opportunities for Missourians to prosper.
For the latest updates on DED’s current or future programs and initiatives, visit DED’s website.
About the BUILD Program
The Business Use Incentives for Large-Scale Development (BUILD) Program helps companies embark on major investment and job creation expansions. The program provides low-interest loans to qualified borrowers through the issuance of tax-exempt revenue bonds for the acquisition, construction, and equipping of qualified manufacturing production facilities and/or equipment.
About the Missouri Works Deal Closing Fund
The Missouri Works Deal Closing Fund is part of the Missouri Works Program, the state’s number one incentive tool for expansion and retention. The Deal Closing Fund allows qualified companies to receive Missouri Works benefits, such as withholdings or tax credits, during year one for competitive projects.
About Missouri One Start
Missouri One Start is the state’s premier workforce recruitment and training division. It helps eligible businesses of all sizes stay competitive by providing customized recruitment assistance, along with resources to train and upskill new and existing employees. Its recruitment strategies and training programs are tailored to the specific workforce needs of the businesses it serves.
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