News today that Boeing will be investing $1 billion and creating 2,000 jobs in South Carolina over the next eight years underscores the aggressive competition among the states. And, it shows that incentives continue to play a role in corporate investment decisions. Communities and states that understand that simple fact stand to gain. While we may wish it were otherwise, the math speaks for itself.
Smart use of incentives returns more than it costs.
AWB president Don Brunell had this to say about the announcement.
“One thing is clear,” AWB President Don C. Brunell said. “States like Utah and South Carolina are doing everything they can to expand their aerospace sector. Boeing and its suppliers like Janicki Industries are their prime targets.”
Coincidentally, this was also the day two mayors took to the op-ed page of the Everett Herald to point out how incentives have boosted their cities tech presence. Quincy Mayor Jim Hemberry and Bothell Mayor Mark Lamb tell a compelling story. I’ll give you their conclusion and urge you to read the rest.
Ensuring Washington’s economic vitality means keeping our eye on those sectors driving economic growth and making strategic public investments in our future — in targeted tax incentives and in human capital. The rewards are substantial — more jobs, more economic activity and more tax revenues at both state and local levels.
Bothell and Quincy are founding cities in the new Technology Cities Coalition.
The Boeing and tech cities stories combine to deliver a timely message to lawmakers about to enter the final weeks of a budget session. The tax policy decisions they make in the short-term will have long-term consequences, for good or ill.
Washington Research Council 