County Council Approves $1.8B in Tax Breaks For Boeing
CLAYTON, Mo. (KMOX) – The St. Louis County Council unanimously approved a resolution Monday night to support tax incentives if Boeing were to come St. Louis for production of its 777X jetliner.
At a special session of the council, regional economic leaders, labor leaders, and the director of Lambert Airport spoke, asking the council to approve the resolution.
The package not only supports $1.7 billion in statewide tax incentives approved in a special legislative session Friday but also pledges local tax incentives that could equal up to $1.8 billion.
County Executive Charlie Dooley says the specifics will be ironed out later.
“$1.8 billion if we get the whole thing locally. If not, it will be something less than that,” he explained.
The company has considered plans to assemble one wing of the plane at its St. Louis County plant rather than the entire plane.
Production of the entire 777X is expected to bring as many as 8,000 jobs to the region.
The council’s resolution will be sent to Boeing Tuesday as part of the incentive package the state is presenting to the company.
Dooley says the $3.5 billion in tax breaks, on top of the region’s other assets, make the offer very competitive.
“We’re right in the middle of the country. We’ve got an airport, Lambert, we’ve got the capacity for building, we’ve got the land, we have a skilled workforce that’s already in place that can easily make that transition.”
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