Boeing may reap $229M in new subsidies from Missouri

Boeing (AP Photo/Reed Saxon, File)

ST. LOUIS (AP) – Missouri has agreed to an incentive package with Boeing that provides the aerospace giant money if employment grows and even some if it shrinks.

The St. Louis Post-Dispatch reports that the deal reflects worry that Boeing’s local employment may shrink as major fighter programs wind down.

Under the deal, Boeing will get $229 million over 18 years if its current St. Louis-area workforce increases by 2,000 jobs. If it maintains employment at its current level of 14,500 jobs, Boeing would collect up to $146 million of the state incentives over 10 years.

And the company would collect a smaller subsidy as long as its job count stays above 12,500. Boeing would have to give back money if the job count falls below 11,000 any time in the next decade.

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