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Tuesday, April 14, 2009

What if Boeing Left Washington?

Posted by Richard S. Davis on 4/14/2009 1:54:00 PM


That's the question answered in this WashACE analysis of the economic impact of The Boeing Company and the aerospace cluster it anchors. Despite the state's economic diversification, aerospace continues to exert a powerful positive economic effect. To get an idea of how much the sector contributes, in this report we take a look at what the economy would look like without aerospace. It's a bleak picture. For example,
Since each Boeing job supports nearly three additional jobs in the state, the company’s departure would mean a permanent reduction of 285,000 jobs.
 
Without the draw of aerospace employment, housing priceswould fall by as much as 6.5 percent by 2030.
 
Statewide personal income would decline by nearly 9 percent.
 The analysis, conducted independently for us by the Washington Research Council, complements last week's release of Deloitte Consulting's assessment of Washington's aerospace competitiveness
 
Read them both. And remind lawmakers that enhancing and maintaining Washington's economic competitiveness is the key to recovery.


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