State defends Missouri aid for Boeing expansion

Boeing Co.’s deal with the state of Missouri obligates the firm to create at least 2,000 new, good-paying jobs here over 10 years in order to reap untold millions in state subsidies. The dollar amount is secret for now, although the administration of Gov. Jay Nixon says it will reveal the size of the subsidies after final details are worked out.

Boeing will benefit from a program that subsidizes jobs by about 4 percent to 9 percent of payroll. St. Louis County will abate 50 percent of the real estate and equipment taxes on the expansion planned for Boeing’s composite materials facility in north St. Louis County. The deal abates school and fire district taxes as well.

Read more from the St. Louis Post-Dispatch


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