Boeing Co. (BA) – Get Report shares leapt to the top of the Dow Thursday after it said it would shift all of its 787 Dreamliner activity to South Carolina as it continues to consolidate its fleet production in the wake of demand changes brought by the coronavirus pandemic.
The stock pared some of those gains, however, after Washington Governor Jay Inslee said the move from suburban Seattle, where the current 787 production is based, could trigger a review of the planemaker’s “favorable tax treatment”.
Boeing said the move will be completed next year, starting with a previously-announced rate of six aircraft a year, although some production will continue at its Everett facility until the North Charleston, South Carolina move is complete.
“The Boeing 787 is the tremendous success it is today thanks to our great teammates in Everett. They helped give birth to an airplane that changed