Washington State wins Business Facilities Economic Development Deal of the Year Award
Trade magazine awards Silver Medal for state’s 777X project
Efforts to keep Boeing’s next-generation commercial aircraft, the 777X, in Washington State, earned Washington’s Department of Commerce the 2014 Economic Development Deal of the Year Silver Award, presented by Business Facilities magazine.
Washington was in competition with two dozen other states for the project. The 777 program currently supports 56,900 jobs in the state and $3.5 billion in annual wages. Additionally, the 777 generates $20.1 billion in annual sales and $133.1 million in annual tax revenues for the State of Washington. Had the 777X been built elsewhere, this economic activity would have been lost entirely by 2024 and other Boeing programs would have likely followed.
Construction of a new $1 billion, 1.3 million square-foot plant just north of the existing Everett assembly plant demonstrates Boeing’s commitment to Washington’s continued leadership in the U.S. aerospace industry.
“It is a tremendous honor that the economic development community at large recognizes the importance of this project to Washington State,” said Governor Jay Inslee. “The new plane, along with the jobs it will create in the state, shows that Washington’s aerospace industry, built around 1,350 companies employing 132,500 workers, is extremely healthy and will continue to grow and prosper for decades to come.”
“The decision to build the 777X program in Washington State is already paying off,” said Alex Pietsch, Office of Aerospace Director. “Washington businesses that support the program are in expansion mode, including Toray in Frederickson and Aeroimpact in Everett. New suppliers such as KUKA and GKN Aerospace are building new facilities in the state to support the 777X and 737 MAX. The Department of Commerce is currently working with several others companies that are looking at investment and expansion opportunities in the Washington aerospace supply chain.”
Business Facilities is a leading national publication covering economic development and site selection. The complete article can be viewed at: http://businessfacilities.com/2015/01/tesla-gigafactory-business-facilities-economic-development-deal-of-the-year/