Boeing Received $227 Million In State Subsidies in 2017 While Cutting 6,000 Jobs

Washington state gave away almost a quarter of a billion dollars to Boeing last year. Rather than create new jobs, Boeing eliminated thousands of them.

The Seattle Times reports:

“Boeing disclosed in an annual filing to the state Department of Revenue that Washington state’s aerospace-industry tax incentives saved the company $227 million in 2017, a year in which it shed just over 6,000 jobs in the state.

The jetmaker’s tax savings were $15 million less than in 2016. That’s because 2017 revenue at Boeing Commercial Airplanes was down 2 percent from the prior year, primarily due to fewer deliveries of the expensive widebody jets built in Everett . . .

Last year’s figure brings Boeing’s total state tax savings over the past four years to just shy of $1 billion.

Boeing did not disclose how much tax it actually paid in Washington state in 2017, but a portion of the taxes paid can be deduced . . .

A separate Boeing filing that accompanies the tax information shows that during 2017 the jet manufacturer cut 6,052 jobs in the state, with total company employment here falling from 71,881 at the end of 2016 to 65,829 a year later.

Those job cuts followed just over 7,500 jobs Boeing shed in 2016.”

For the rest of the story, visit the Seattle Times here.

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