St. Louis County offers Boeing billions in tax breaks to expand
ST. LOUIS, MO (KTVI)– The St. Louis County Board has voted to support as much as $1.8 billion in tax incentives for Boeing to expand in the area.
Boeing is looking for a state to start production of its 777X commercial airliner.
Production of the planes could create as many as 8,000 new jobs.
Missouri is one of about a dozen states in the running.
Boeing is asking for tax breaks and deals on property.
“It is very, very competitive,” St. Louis County Executive Charlie Dooley said. “If we want to be in the mix we have to do this.”
The county is following in the footsteps of state lawmakers, who have passed a bill approving $1.7 Billion in tax incentives for Boeing. Gov. Nixon is expected to sign the bill Tuesday.
Dooley, who is also a retired Boeing employee, called the incentives “reasonable.”
He also said if Boeing chooses to expand in the St. Louis area the schools, fire protections districts andoverall economy will improve.
“These will be high paying jobs,” Dooley said.
Local unions are also offering Boeing incentives, including working three shifts without overtime to construct the buildings required to produce the planes.
“I think it’s worth it anytime you can put people back to work,” Jeff Aboussie of the Building and Construction Trades Council of St. Louis said.
The council will still have to decide exactly what kind of tax incentives to amount to $1.8 Billion will be offered.
The incentives could include “TIF,” which is a public tax subsidy.
Boeing is expected to make a decision in Jan. 2014.