As expected, Boeing Co. (NYSE: BA) will not locate a new airplane manufacturing operation and thousands of new jobs in Indiana. The company chose Washington state for the complex after a local union approved an eight-year contract extension. The state said last month landing the operation would be “a longshot” because of major incentives being offered by others including Washington. The state said incentives being offered by other states were “way beyond the bounds” of what Indiana would be willing to offer. The Wall Street Journal reported last month Washington lawmakers approved a 16-year incentive package worth roughly $8.5 billion.
The Indiana Economic Development Corp. issued a statement at the time saying the state is continuing efforts with companies, including Boeing, to discuss how Indiana fits into their long-term plans.
January 4, 2014
Seattle, Wash. — Boeing's (NYSE: BA) contract extension offer was approved today by members of the International Association of Machinists & Aerospace Workers District 751 (IAM). Under the terms of the eight-year contract extension, the 777X and its composite wing will be built in the Puget Sound area by Boeing employees represented by the IAM. This work includes fuselage build, final assembly and major components fabrication such as interiors and wires.
“Thanks to this vote by our employees, the future of Boeing in the Puget Sound region has never looked brighter,” said Boeing Commercial Airplanes President and CEO Ray Conner. “We're proud to say that together, we'll build the world's next great airplane—the 777X and its new wing – right here. This will put our workforce on the cutting edge of composite technology, while sustaining thousands of local jobs for years to come.”
Source: Boeing Co.