New Findings Reported from Federal Reserve Bank Describe Advances in Economic Development (Aerospace Place-based Policy: the Impact of Boeing On South Carolina’s Aerospace Industry): Economics – Economic Development

Economics Daily Report

2024 SEP 03 (NewsRx) -- By a News Reporter-Staff News Editor at Economics Daily Report -- A new study on Economics - Economic Development is now available. According to news reporting originating in Baltimore, Maryland, by NewsRx editors, the research stated, “South Carolina offered Boeing nearly $1 billion to locate a 787 Dreamliner assembly plant in North Charleston, which opened in 2011. Using difference-in-differences and synthetic difference-in-differences estimators, the author finds a substantial impact of the plant on South Carolina’s aerospace employment (311% or 6,000 jobs), wages (10%), and establishments (44%) in the subsequent decade.”

The news reporters obtained a quote from the research from Federal Reserve Bank, “The estimated number of aerospace jobs generated by the plant exceeds Boeing’s 3,800 promised jobs. However, much of the state’s aerospace establishment growth does not appear to be directly related to the Boeing plant, with most of it occurring in the upstate region (Greenville, Spartanburg) late in the treatment period.”

According to the news reporters, the research concluded: “An analysis of the Charleston metropolitan area’s economy reveals a 5-year local employment multiplier of 2.6 per promised job.”

This research has been peer-reviewed.

For more information on this research see: Aerospace Place-based Policy: the Impact of Boeing On South Carolina’s Aerospace Industry. Economic Development Quarterly, 2024. Economic Development Quarterly can be contacted at: Sage Publications Inc, 2455 Teller Rd, Thousand Oaks, CA 91320, USA.

Our news correspondents report that additional information may be obtained by contacting Adam Scavette, Federal Reserve Bank, 502 S Sharp St, Baltimore, MD, United States.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1177/08912424241268284. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.