Expansion Impacts
Boeing, Missouri’s largest employer, has announced plans to invest $2 Billion at its facilities in St. Louis County, Mo., and St. Clair County, Ill., creating an additional 650 jobs in the region.
Gulfstream Aerospace Corp. has announced plans to invest $28.5 Million in its facility at St. Louis Downtown Airport in St. Clair County, which will bring 200 new jobs.
Source: JobsEQ®, http://www.chmuraecon.com/jobseq; Data as of 2023Q1, Note: Figure may not sum due to rounding
Annual Economic Impact in the Bi-State Region for Adding 990 Jobs within the Aerospace Product and Parts Manufacturing Industry:
| Direct | Indirect | Induced | Total Ripple | |
|---|---|---|---|---|
| Employment | 990 Jobs | 169 Jobs | 644 Jobs | 1,803 Jobs |
| Sales/Output | $441MM | $58MM | $157MM | $656MM |
| Compensation | $158MM | $21MM | $47MM | $226MM |
Biggest Ripple Effects — By Industry
- Impacts in other manufacturing industries total an additional 106 indirect jobs and 32 induced jobs with a total ripple impact of over $52MM
- General Medical and Surgical Hospitals will add a total of 44 ripple jobs
- Managing Offices will add a total of 37 ripple jobs
- Restaurants will add a total of 64 ripple jobs
Indirect Impact
The jobs and sales/output created or lost by regional companies supplying goods and services to the new or newly expanded industry.
Induced Impact
The jobs and sales/output created or lost when new employees from the new or expanded firm spend their wages at local establishments.
We also just made a major investment in the advanced manufacturing innovation center in North St. Louis City, so we are heavily involved in this evolution of St. Louis as an advanced manufacturing hub for the Midwest.