Boeing Expanding Plant in Charleston

by Nate Wooley | April 11, 2013 12:36 pm

Boeing Expanding Plant in Charleston

boeing 630 300x180 Boeing Expanding Plant in Charleston[1]Boeing (NYSE:BA[2]) will soon be expanding its manufacturing operations in South Carolina.

Boeing — coming off the troubles with its Dreamliner 787 aircraft[3] — is investing $1 billion in the North Charleston plant expansion, the Associated Press reports[4].

“Boeing is now a part of the fabric of South Carolina. So this is family and when family does well, we all get excited,” said South Carolina governor Nikki Haley at a press conference.

In addition to the money Boeing is spending, the state is investing $120 million in incentives to help with utilities and site preparation.

Boeing currently makes one Dreamliner per month at the North Charleston site. That is expected to double shortly and could increase again as the company brings on as many as 2,000 new workers over the next eight years. In addition to the full aircraft, the plant — and another one in Everett, Wash. — manufactures mid- and aft-assemblies for the Dreamliner.

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Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/05/boeing-630.jpg
  2. BA: http://studio-5.financialcontent.com/investplace/quote?Symbol=BA
  3. its Dreamliner 787 aircraft: http://investorplace.com/2013/02/dont-expect-a-quick-fix-for-dreamliner/
  4. the Associated Press reports: http://www.usatoday.com/story/money/business/2013/04/09/boeing-expansion-south-carolina/2066469/
  5. Airbus Breaks Ground on First-Ever U.S. Jet-Building Plant: http://investorplace.com/2013/04/airbus-breaks-ground-on-first-ever-u-s-jet-building-plant/
  6. Looking to Owls for Quieter Airplanes: http://investorplace.com/2012/11/looking-to-owls-for-quieter-airplanes/
  7. Why Boeing Is Still a Buy: http://investorplace.com/2013/01/why-boeing-is-still-a-buy/

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