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Boeing

Staff Pick

Finally. We get something from Washington that doesn’t come in venti, vinyl, or flannel. Let’s be honest, we were banking on a local aerospace industry about as much as we were on Point Pleasant’s success. That is to say, we weren’t. But boy were we wrong, as Charleston and South Carolina snagged a really big fish (even based on boomtime standards). There have been some questions about the value of the rather sizeable investment: $263 million in state bonds, a pass on a decade’s worth of property taxes on large cargo planes, and $25 million in corporate income tax credits. But the state is estimating a $13.76 million return on the investment in the first 15 years and, more importantly, $3.8 billion in payroll for more than 6,000 employees.

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