Rich White, the Government Relationship Manager for the Boeing Company, spoke to the club about the future of Boeing in Washington. 

In 1916 the Boeing company was founded by Bill Boeing.  Bill Boeing launched The Boeing Company out of the “Red Barn”.  May 1917 the Navy ordered 50 Model Cs from Boeing. 

                  Rich White Talking on the History of the Boeing Company

In 1917 Boeing’s first charitable contribution creates University of Washington Wind Tunnel.  This helped in the design of aircraft.

In order to save the company and local jobs in the down periods Boeing began building furniture and boats.

Boeing created the B-17 & B-29 that were arguably the most important heavy bombers in World War II.

In 1942 men went to war and women built the planes.

The 707 was Boeing’s first jet airliner built in 1954.  Paine Field was started in 1936.  It was an Air Force base until the 60’s.  Boeing took over the area and began producing the 747 – September 30, 1968.  First flight in February 1969.

Boeing is the largest single exporter in the US.  60% of all Washington exports in 2015. 

Boeing hopes to increase output to 57 737 airplanes per month beginning in 2019. 

Boeing manufactures a variety of twin-aisle airplanes.  1,025 acres and 14 million sq. feet at the Boeing Everett site. 

Airlines will need 41,030 new airplanes valued at $6.1 trillion.  The market for new airplanes to become even more geographically balanced.  Air travel is becoming more diverse geographically.  More people around the world are flying.  More acceptance and expectation to fly.

Child will need 6,810 new airplanes valued at $1 trillion.  China bought 300 new Boeing airplanes and Boeing has agreed to build a finishing center in China (paint, installation of seats, etc.).

The 737 MAX is the new plane from Boeing.  3,800 orders on the books.  Longer range airplane.  Point to point service.

777X and composite wing will be built in Puget Sound.  More efficient.  2035 wingspan.  Currently 212.  A 777X composite wing center has been built in Everett. 

Customer want more for less.  It is a highly competitive market.  Headwinds exist in the market.  Instability, volatility, populism, increased geopolitical uncertainty, terrorism frequency & breadth, jet fuel prices, exchange rates, economic growth variation.

Washington’s aerospace tax incentives were passed.  503 companies in Washington take advantage of this lower tax rate.  Last year the benefit to Boeing was $300 million but Washington has benefited to the tune of $13 Billion.  There are repeated efforts in Olympia to claw back aerospace tax incentives and legislate business decisions. 

Boeing donated $50 million in 2018.  Focused on learning and education.  Hope to produce engineers and other prosperous individuals.  Hired over 10,000 veterans in the last year.   More than $600 million was donated by employees.  Nearly 200 humanitarian delivery flights since 1992.