Boeing moving to the Charleston SC Area will help Spur and Speed up the Recovery of the local Real Estate Market

Boeing moving to the Charleston SC Area will help Spur and Speed up the Recovery of the local Real Estate Market

Boeing bringing jobs to the area will help stabilize the economy and help spur and speed up the recovery of the local real estate market (i.e. Charleston, North Charleston, Goose Creek, Mount Pleasant, Summerville, and etc.). This good news for homeowners looking to sell in the next couple of years, because this will give the market some time to reduce the number of homes on the market and allow home prices to go back up. But if you are home buyer, right now is the best time to buy. The supply of homes is exceeding the demand, low home prices and low interest rates, which means you have a tremendous buying power (i.e. Buy Your Dream Home).

Boeing lands here

Aviation giant expects to break ground on new assembly plant within the next few weeks

By John McDermott , Yvonne Wenger The Post and Courier Thursday, October 29, 2009

North Charleston won the fiercely fought battle for a Boeing 787 aircraft assembly plant Wednesday, thrusting South Carolina onto the world stage of aircraft manufacturing.

The Boeing Co. will build the new line at its Charleston International Airport property instead of in Everett, Wash., the nation's aviation nerve center and longtime home of the company's commercial airplane business.

The decision was announced after state lawmakers wrapped up a two-day special session in which they approved a rich basket of financial incentives for Boeing valued at $450 million by state Sen. Hugh Leatherman, a Florence Republican who heads the Senate Finance Committee.

The aerospace giant would have to create at least 3,800 jobs and invest more than $750 million within seven years to take advantage of the various inducements.

Tim Coyle, vice president of Boeing Charleston, said the company plans to break ground on the 584,000-square-foot expansion near its existing factory within the next few weeks. Work on the first locally made 787 Dreamliner is expected to begin in 2011.

Boeing had said previously that its stormy relationship with the International Association of Machinists was a key factor in its decision to look beyond its highly unionized operation in Washington state. Last year, the union staged a damaging eight-week strike in the Seattle area that compounded the delays that have been dogging the 787 program for two years.

The company began taking a hard look at building the second line for its newest jet in North Charleston in August, meaning that the Dreamliner plant went from a dream to a reality in less than three months, said Senate President Pro Tem Glenn McConnell, R-Charleston.

It wasn't South Carolina's low unionization rate, the incentive deal or any other single factor that sold Boeing, McConnell and Leatherman said. Coyle agreed, saying Boeing considered the business environment, logistics and the infrastructure in North Charleston and Everett.

To read the rest of this article, http://www.postandcourier.com/news/2009/oct/29/29boeing/

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