ANNOUNCEMENT 11 Jan 2015

To retain Boeing jobs in Missouri, the state awarded the company a subsidy package whose value depends on the number of retained and created jobs, according to a press report from 11 January 2015.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



Main data from Good Jobs First at http://www.goodjobsfirst.org/sites/default/files/docs/Megadeals_February2015.xlsx.
Jim Gallagher, 'Boeing may reap $229 million in new subsidies from Missouri,' St. Louis Post-Dispatch (January 11, 2015). Available online: http://www.stltoday.com/business/local/boeing-may-reap-million-in-new-subsidies-from-missouri/article_be905d08-7c0b-5591-8740-3540940a072d.html


Inception date: No inception date

Tax or social insurance relief

The subsidy total represents the highest subsidy allowed under the agreement. If Boeing maintains 14,500 current jobs, the company will be eligible for up to $146 million in tax credits. If, in addition to retaining jobs, Boeing creates 2,000 new jobs in the St. Louis area, the company will be eligible for additional $78 million, or up to $229 million over 18 years. The subsidy will come from the Missouri Works program, which provides a tax credit equal to 20.5 percent of workers’ personal income tax withholdings.

AFFECTED SECTORS