The South Sound aerospace industry received a financial lift thanks to a $125,000 grant from the Washington State Department of Commerce.
The grant, which was awarded to the Economic Development Board for Tacoma-Pierce County this week using funds from Governor Inslee’s economic development strategic reserve account, will support capital investments by AIM Aerospace. The company manufactures advanced carbon fiber for military, commercial aerospace, engines, secondary/primary structures and unmanned aerial vehicles. It operates two production facilities — one is in Renton, while another facility is in the process of moving from Auburn to Sumner.
“We are excited to have the Governor’s support as we are creating a better company that is more technologically advanced in the State of Washington while adding more value to our customers, our employees, and our shareholders,” said AIM Aerospace CEO Daniele Cagnatel in a press release.
AIM Aerospace plans to grow 10 percent year-over-year for the next four years, according to company officials, reaching an overall increase of 30 percent for its entire workforce by 2023.