Embraer SA (ERJ) has released an update.

Embraer is set to expand its presence in the U.S. with a $70 million investment in a new maintenance, repair, and overhaul (MRO) facility at Perot Field Alliance Airport in Fort Worth, Texas. The expansion, supported by local incentives, will increase Embraer’s capacity to serve E-Jets customers by 53% and create about 250 skilled aviation jobs. This move highlights Fort Worth’s growing importance as a hub for aerospace innovation, further boosting the local economy and the aviation sector.

For further insights into ERJ stock, check out TipRanks’ Stock Analysis page.