Significantly larger than a monarch or a moth, Boeing's super-sized aircraft is kicking up a wind that's felt across the country.
South Carolina's legislators and economic development officials were practically giddy when Boeing announced they were touching down in North Charleston. They could hardly be blamed.
In what's being touted as the biggest development deal in the state's history, officials say Boeing has committed to invest $750 million dollars in a facility that will serve as a second manufacturing line for their "green" Dreamliner 787 aircraft, creating thousands of jobs in the three county region that's currently burdened with near 10% unemployment.
"Boeing's decision to expand their presence in our state with an infusion of jobs and capital investment represents not only enormously good news for our state's economy, but also a telling dividend from our state's continued efforts to better our business climate," South Carolina Governor Mark Sanford said in a statement.
It's not clear if even the Dreamliner's massive wingspan (197 feet--think 20-story building) can lift Sanford's diminished reputation. But the governor was the legitimate MVP of the deal, says David Ginn, president and CEO of the Charleston Regional Development Association--and not just because Sanford signed a sizable incentive package for Boeing. He also led the charge to lure Vought Aircraft Industries to the state six years ago, Ginn says. Now Vought's adjacent North Charleston facility will become a key structure for Boeing's Dreamliner as Boeing acquired the Vought facility in July for approximately $580 million. For South Carolina, Sanford continued in his statement, this new deal "means lowering taxes, easing regulatory burdens in our state's tort and workers' compensation systems, and keeping South Carolina a right-to-work state."