Now that the excitement of the state’s win in the 7E7 auction has subsided a bit, there are some questions to ponder.
The big one in my mind is this: Will the benefits from assembling the new jet in Everett (as opposed to some other state) equal or outweigh the $3.2 billion in incentives the state bid to win the program?
I could go all wishy-washy at this point and mention that we’re only talking about 800 to 1,200 direct jobs, with an equal number of related positions.
And there are certainly other arguments on the "no" side of the question.
But let’s just cut through all that and get straight to the point: I like the deal.
Certainly the 7E7 jobs will not replace the many thousands cut by Boeing during the past few years — nearly 8,000 in Snohomish County alone. But jobs aren’t the only thing at stake.
There’s also community pride.
Seattle likes to refer to itself as Jet City, and Everett has always basked in that glow. But with the 7E7 deal, I think Everett earns the rights to the Jet City moniker.
After all, they don’t build jets in Seattle, just in Everett and Renton. Boeing’s headquarters has moved from Seattle to Chicago. Everett not only has the largest aircraft manufacturing facility in the world, but it’s now home for the latest and greatest in jet technology.
We are Jet City, and we should be proud of that.
Another reason I like this deal — and this is certainly more tangible — is that its benefits go far beyond Boeing.
Take the $4.2 billion plan to improve the region’s transportation system during the next 10 years.
The plan was approved by the Legislature earlier this year after a lot of hand-wringing and inaction.
We’re paying for it through a higher gas tax, but the plan would likely not have existed without Boeing.
Company officials strongly backed the improvements, saying they wouldn’t add programs to areas paralyzed by traffic.
With Boeing looking to go elsewhere, a Legislature lacking the political will to face the problem suddenly developed a spine.
Boeing will benefit, and so will we. The improvements won’t cure our traffic ills, but I hate to think what the area would be like if we did nothing at all.
Similarly, improvements at the Port of Everett should help the agency boost its overall cargo business as it improves its facilities to handle oversized Boeing containers.
And a new composite materials center at the University of Washington should provide the next generation with important skills, as well as helping supply Boeing with trained workers.
That’s why I think the news, coming just before Christmas, is nice to hear. The 7E7 could be a gift that benefits us for a long time to come.
And yes there certainly is another side to this coin. We have promised Boeing huge tax breaks that will strip millions from state coffers, also for a long time to come.
But from where I sit today, in the new Jet City, things still look pretty good to me.
Mike Benbow: 425-339-3459; benbow@heraldnet.com.
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