That's the question the Washington Research Council sets out to answer in its new competitiveness brief. You can read their complete analysis here in a PDF. Among the findings:
- Boeing has a jobs "multiplier" of 3.96, meaning the company supports nearly four additional jobs in the state.
- The company’s departure would mean a permanent reduction
of 285,000 jobs. - Without the draw of aerospace employment, housing prices
would fall by as much as 6.5 percent by 2030. - Statewide personal income would decline by nearly 9 percent.
The Washington Alliance for a Competitive Economy (WashACE) funded the research, which looked solely at the impact of Boeing, and not the greater aerospace industry. For that, you can look to the Deloitte study rolled out last week by the Economic Development Council of Snohomish County.
