Subsidy Tracker Individual Entry

Company: 
Boeing
Parent Company: 
Boeing
Subsidy Source: 
state
Location: 
Missouri
County: 
St. Louis
Project Description: 

company retention

Year: 
2014
Major Industry of Parent: 
aerospace and military contracting
Specific Industry of Parent: 
aerospace & military contracting
Subsidy Value: 
$229,000,000
Program Name: 
Missouri Works
Awarding Agency: 
Department of Economic Development
Type of Subsidy: 
MEGADEAL
Wage Data: 
$86,000
Wage Data Type: 
expected average salary
Source of Data: 

All of the information was taken from: Jim Gallagher, "Boeing may reap $229 million in new subsidies from Missouri," St. Louis Post-Dispatch, January 11, 2015. The article was based on an open records request from the newspaper. Available online: http://www.stltoday.com/business/local/boeing-may-reap-million-in-new-su...

Notes: 

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. 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 Missouri Works program, which provides a tax credit equal to 20.5 percent of workers' personal income tax withholdings. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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