Updates & Next Steps

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Updates & Next Steps

April 1, 2005

The Governor's budget has been released, and she has identified aerospace as a key industry worth investing in for Washington's future.  Links to the legislation are included below.   The Governor's Budget for Economic Development  . . . . "Provides aerospace supplier tax incentives. The Governor has taken an important step toward securing a supplier base for aerospace in Washington. Her budget includes: -   $4.8 million in tax incentives designed to attract a variety of potential aerospace suppliers to      Washington. -   $500,000 in tax credits for manufacturers of airplanes.   Securing the next generation of Boeing aircraft assembly by landing the Boeing 7E7 project at Everett was a major commercial victory for Washington and a testament to the state's strong business climate and commitment to economic progress. Now, the state is focused on the next step: a home in Washington for the supply chain for that aircraft."   Governor's Budget and Highlights

LEGISLATIVE ALERT

There is new legislation before the 2005 Washington State Legislature which will affect the aerospace industry:

Companion bills HB1940 and SB5684 - Providing excise tax relief for the development of commercial airplanes. Bills and bill summaries.

Companion bills HB2111 and SB5972 - Modifying the business and occupation tax credit for property tax payments related to the manufacture of commercial airplanes.   Bills and bill summaries.

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March 1, 2005

The 787 project has been officially designated a project of statewide significance.

The Employment Resource Center (ERC) site location process and program vendor selection are underway.  Construction and program development are on target to get underway this spring and summer.

The Port of Everett barge dock project has received permits from the local and state governments.  The project awaits permit approval from the Corps of Engineers, at which time the construction bid process begins.

Washington State Department of Transportation projects in the City of Everett/Snohomish County area are both on track.

The SR527 project widens the road to two lanes in each direction from I-405 in Bothell to I-5 in Everett. Drivers will have a safer and less congested highway.  Construction began in May 2204 and is due to wrap up by the end of 2005.

Crews will begin construction on the I-5 HOV lanes between SR526 and US Highway 2 in summer 2005 and expect to finish in mid-2009, two years earlier than originally scheduled. The accelerated schedule will benefit the Boeing 7E7 Dreamliner Program, 2010 Vancouver Olympics tourism and all drivers who use I-5 through Everett.

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