Originally published October 2, 2013 at 2:26 PM | Page modified October 2, 2013 at 10:01 PM<\/p>\n
Gov. Jay Inslee said Wednesday hell propose extending the states aerospace incentives through 2040 if Boeing assembles the 777X and fabricates its composite wings in Washington. <\/p>\n
He also said he has formed an advisory group to address an environmental issue water-quality regulation thats got Boeing worried about rising costs at its Renton plant on Lake Washington. <\/p>\n
Inslee spoke at a gathering of aerospace industry executives in Everett, where the main item on the agenda was competition from other states for aerospace business. <\/p>\n
These states want what we have and they are going after it aggressively in ways we cant do, said Matt Yerbic, chief executive of Everett-based aircraft-maintenance and repair company Aviation Technical Services (ATS). Its all about jobs. <\/p>\n
The states aerospace incentives, including substantial tax breaks, were introduced 10 years ago to persuade Boeing to assemble the 787 Dreamliner here. They are to expire in 2024. <\/p>\n
All aerospace companies in the state benefit from the incentives, though Boeing has drawn by far the biggest share. <\/p>\n
Inslee told the states annual Aerospace Summit that the tax incentives have been tremendously successful for Washingtons citizens. <\/p>\n
Drawing on an analysis released Wednesday, he said $1.4 billion in industry tax savings in aerospace had yielded $3 billion in direct revenues for state coffers. <\/p>\n
If Boeing decides to build the 777X and (fabricate) the wing in Washington, I believe those incentives should be extended to the anticipated life of this airplane, through 2040, Inslee said. <\/p>\n
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Inslee wants aerospace tax breaks extended if Boeing builds 777X here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Originally published October 2, 2013 at 2:26 PM | Page modified October 2, 2013 at 10:01 PM Gov. Continue reading