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McCarty speaks in favor of Boeing bill at House hearing

Associated Industries of Missouri president Ray McCarty told a House committee today that securing the Boeing project for Missouri would benefit suppliers across Missouri.

Speaking before the House Economic Development Committee, McCarty restated the association’s support of the bill that passed the Missouri State Senate Wednesday afternoon. The vote to pass the legislative package of incentives for Boeing was 23-8.

“In addition to the direct and indirect benefit of securing such a project for Missouri, this project would benefit suppliers across Missouri that need additional work to replace declining orders in the defense sector due to federal sequestration of the defense budget,” said McCarty.

Under Missouri’s proposal, the amount of incentives Boeing gets would depend on the number of jobs created.

Supporters of the incentive package say Missouri could gain 8,000 additional Boeing jobs if it chooses to assemble the new commercial airplane in Missouri, and 2,000 to 3,000 jobs if Boeing decides to build only the airplane wings in St. Louis. Thousands of additional employees could be added at businesses that supply parts to Boeing.

Boeing could get an aggregate of about $435 million of incentives by 2040 if it adds 2,000 jobs in Missouri and up to $1.74 billion if it adds about 8,000 jobs, according to an analysis released by Governor Jay Nixon’s office.

The House Economic Development Committee is expected to vote on the bill later today. We will keep you up to date.

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