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State Senate Gives Boeing Tax Incentive For Creating New Jobs

As of earlier this week, the Senate passed a tax incentive deal for our favorite plane manufacturer company, Boeing, after some hours of debate.  Now, said bill is on the way to the House to hopefully be approved.  So the juicy details...  Senators approved the bill, which would give up $150 million each year in tax incentives to lure production of their 777X commercial planes to St. Louis.  The governor gives the House until the beginning of next week to pass a bill for consideration by the Boeing.  That's also the same day that the company requires Missouri to turn in its proposal.

The bill is said to be one that gets them compete for a large number of direct as well as indirect jobs.  Many of these are actually considered long-term and high paying jobs.  Whether they choose to do the entire production or just parts in Missouri, the bill states that the more jobs Boeing creates, the more tax breaks it will get.  If they choose to do the entire production there, they would create about 8,000 jobs, just parts would equate to about 2000 to 3000 jobs.  I think that's a win-win for everyone!