Missouri’s Aerospace Sector Well-Positioned for Success
- August 29, 2023
Missouri’s rich legacy in manufacturing and military aviation, coupled with emerging advanced manufacturing hubs, positions the state to thrive in the competitive global aerospace and defense market. Its stable business environment, AAA bond rating, healthy tax climate, and flexible incentive programs make it an attractive prospect for long-term investments.
Boeing’s recent $1.8 billion expansion plan in St. Louis, Missouri, is a significant development set to create 500 new jobs in the region. Major investments are likely to continue in Missouri, where so many companies in the aerospace industry have found success. The International Air Transport Association (IATA) estimates the airline industry’s profits to be $5 billion in 2023, rebounding from losses of $7 billion in 2022. The global demand for military equipment and increased defense budgets are also expected to strengthen the defense industry.
Successful business expansions in the aerospace and defense sector typically require specialized workforces, minimal supply chain disruptions, and cost efficiencies. Missouri checks all those boxes. The state’s diverse transportation infrastructure, well-qualified talent pool, and educational institutions offering aerospace and defense degrees all support the growth of businesses that choose to expand to Missouri.
This article, published in Investment Monitor, dives deep into Missouri’s thriving aerospace sector and includes a free white paper for your review. Highlights include Missouri’s desirable conditions for aerospace business growth, unmatched talent and training resources, and the rise of complementary institutions that make it a unique hub for growth and innovation.
Read the full article and download the free white paper here.