January 7, 2019
Fast Facts
Bringing Business Up to Speed
Other News

Boeing CEO named Person of the Year by Aviation Week

Boeing Chairman, President and CEO Dennis A. Muilenburg was named Person of the Year by Aviation Week & Space Technology magazine. Writing in its Jan. 7 edition, the magazine said that since taking over leadership of the world's largest aerospace and defense manufacturer in 2015, Muilenburg has overseen Boeing increase its share of the $370 billion annual commercial aircraft industry and score high-profile defense contract wins.

The company has added a third business pillar with creation of a stand-alone Global Services operation, with a goal of $50 billion a year in after-market revenue by the mid-2020s. That's evidence, the magazine wrote, "that Boeing will make money on its airliners not just at the point of sale but throughout the 25-30 years they are in operation. It is a transformative shift away from the way the industry has done business for decades."

Boeing is also insourcing more aircraft components, most notably the composite wings on the 777X being made in Everett.

While improving the company's bottom line, Muilenburg is also looking to the future, the magazine reports: ā€œIā€™m convinced that the first person that gets to Mars is going to get there on a Boeing rocket,ā€ he has famously said.

The annual Aviation Week Person of the Year takes note of someone who has had a major impact on the aerospace or aviation industry.

The Puget Sound Business Journal last week published a story looking at the company's big deals and big expectations for 2019.

Also last week, Boeing announced more than $250 million in corporate donations and grants in 2018, The Herald reports.

« Back to Main
Legislative Day and Hill Climb Preview
Supporting Rural Areas

Let's work together to prioritize rural economic revitalization

By AWB President Kris Johnson

The mission of the Association of Washington Business is to bring people together throughout the state to promote economic prosperity -- from the urban centers to the most rural corners.

We know that parts of Washington have boomed since the end of the recession, but other areas -- particularly the rural communities that exist in each of our state's 39 counties -- have not realized the same economic opportunities.

Our state's overall success depends on not just talking about the many barriers holding back economic growth in rural regions but finding and implementing solutions discussed at the AWB Rural Jobs Summit in the Legislature and at the local level to move every community forward.

Whether urban, rural or somewhere in between, we're all in this together.

Read the full column in the Tri-Cities Area Journal of Business
Taxing Employers

Legislature's return to work presents a challenge for business

By Bill Virgin

Laments from the business community about taxes, regulations and the high cost and frustration of doing business around here are typically met with two responses: "It can't be that bad, look at our booming economy," and "If you don't like it, leave" (the latter usually accompanied by a snide remark about Texas or the South).

To those points: The current success of the tech sector, however loosely that's defined, certainly fueled economic growth in the region. But other sectors are struggling for reasons of their own (retailing) or related to the boom (industrial businesses dealing with high costs). Tech's boom has papered over a lot of ills, and if the sector ever has another moment like the dot-com bust, that facade will be gone...

Eventually businesses reach a point at which the cost/benefit analysis tips from staying to going.

It hasn't happened in great numbers and it won't happen at the same time for all businesses. But those tipping points are out there. In 2019, we'll find out see how enthusiastically the Legislature pushes the region closer to them.

Read the full column in The News Tribune
Upcoming Events