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  • Friday, November 22, 2024
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Boeing to Invest $1.8B in St. Louis Business Expansion Plan

Boeing (NYSE: BA) will put $1.8 billion toward real and personal property investments in St. Louis, Missouri, where the company produces aircraft and weapon systems for the defense sector, The St. Louis Business Journal reported Friday.

Under Project Voyager, Boeing plans to construct multiple buildings encompassing 1 million square feet of space in Berkeley and unincorporated St. Louis County near Lambert International Airport.

The company aims to create as many as 500 jobs in the region and support new aerospace programs through the project, according to the report.

If approved, the initiative would generate an estimated $108.4 million in lieu of taxes over a 10-year period.

The report noted that Boeing’s local expansion investment is larger than the headquarters construction project by the National Geospatial-Intelligence Agency.

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