Study: Boeing provides more than $2.7 billion to Alabama economy
Company-commissioned study shows Boeing’s $2.7 billion in annual economic impact supports 9,402 direct and indirect jobs in the state.
HUNTSVILLE — Boeing contributes more than $2.7 billion annually to Alabama’s economic growth and development, according to a study commissioned by the company.
This year marks Boeing’s 60th year in Alabama. From the Saturn V rocket and moon missions, to developing the systems that protect the U.S. homeland and its allies, Boeing has deep roots in the Yellowhammer State. With approximately 3,039 employees, Boeing is the largest aerospace company in Alabama.
“For six decades, Alabama and Boeing have shared a partnership of innovation, growth and prosperity,” said Cindy Gruensfelder, vice president and general manager, Boeing Missile and Weapon Systems and Huntsville site senior executive. “Today, more than 3,000 Boeing Alabama employees, and thousands more in supplier companies across the state, help create the world’s most advanced defense and aerospace products. This study helps to quantify the company’s significant impact on the state’s economy. Looking forward, we are committed to the continued success of our customers, the economic health of the state and contributing to the overall quality of life in the communities where we live and work.”
Boeing partnered with the University of Alabama’s Culverhouse College of Commerce and Business Administration to conduct a full-scale economic impact study across the state in 2021. The findings show the critical role Boeing played to grow a vital and vibrant defense and space industry and a highly skilled, high value Alabama workforce.
Highlights from the report include:
- In 2021, Boeing’s economic output was $2.731 billion of which $663.2 million represents earnings for 9,402 direct and indirect jobs.
- That year, earnings generated $61.5 million in tax revenue, including $35 million in state and $26.5 million in local taxes. The state’s revenues comprised $21.8 million individual income tax, $11.4 million sales tax, and $1.8 million property tax. Local county and municipality revenues came from $14.2 million sales tax and about $12.3 million property tax.
- The company also made in-state, non-payroll purchases and expenditures of $979.1 million bringing the company’s total in-state expenditure to approximately $1.3 billion.
- In addition to the significant economic impact Boeing provides to Alabama, the company also contributes significantly to community and workforce development in the state, including $2.9 million in business contributions and charitable grants in 2021.
In recognition for Boeing’s 60th anniversary in Alabama, the company awarded two $60,000 grants. The recipients of these grants were the Boys and Girls Club’s STEM programs and the Huntsville/Madison County Chamber Foundation’s Hiring Our Heroes program.
“Boeing has been an exemplary community partner and is a model for supporting so many of our education and workforce programs over their six decades in Huntsville,” said Lucia Cape, Senior VP of Economic Development at the Huntsville/Madison County Chamber. “Today, we are especially grateful to Boeing for their support of our pilot program with Hiring Our Heroes that will help enlisted service members transition into manufacturing careers in the Huntsville area. We believe this will grow into a workforce solution for the whole region.”
Boeing’s involvement in Alabama began when it set up operations to advance the initial development of the Saturn V rocket’s Stage 1 booster. Today, Boeing’s Alabama workforce is taking a lead role in developing the core stages, upper stages and avionics for NASA’s Space Launch System — the most powerful rocket the space agency has ever developed.
Boeing’s Alabama operations are also heavily involved in U.S. missile defense programs. Its Missile and Weapons Systems division is headquartered in Huntsville, which includes programs that protect the U.S., warfighters, allies and international partners against threats ranging from intercontinental ballistic missiles to hostile aircraft, such as Ground-based Midcourse Defense (GMD) and Patriot Advanced Capability-3 (PAC-3).
As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact.