New Boeing economic impact analysis issued
The Washington Research Council today (April 14) issued an eight page analysis entitled, “What if Boeing Left Washington?” The PDF file may be found here.
The WRC is a local, Seattle-based conservative think tank that focuses on economic issues in the state. The report was issued through its Washington Alliance for a Competitive Economy affiliate (WashACE).
Among the findings:
- There would be four indirect jobs lost for every Boeing job lost should Boeing move from Washington. If Boeing Commercial Airplanes moved its production from Renton and Everett, along with associated company jobs, totalling 72,000, then the state would have a total job loss of 285,000.
- Housing prices would fall by as much as 6.5% by 2030.
- Statewide personal income would drop by about 9%.
- WashACE looks at two scenarios, an immediate withdrawal by 2013 or a phased withdrawal over 10 years.
The economic impact to Washington if Boeing leaves the state is dramatic.