June 2022 Group Watch: Boeing’s Alabama Economic Impact Reaches $2.7 Billion
Boeing contributes more than $2.7 billion each year to Alabama’s economy, along with 9,400 jobs in its sprawling operations and support network. The global space and defense manufacturer, which is marking its 60th year in the state, conducts a wide range of business activities in the Huntsville region, from protecting the U.S. and its allies with innovative weapons systems to charting new chapters of human space exploration. With more than 3,000 employees in Alabama, Boeing’s operations span variety of research, design and manufacturing activities. Boeing worked with the University of Alabama’s Culverhouse College of Commerce and Business Administration to complete an economic impact study. Among the highlights of the study:
- In 2021, Boeing’s economic output reached $2.731 billion, which includes $663.2 million in earnings for 9,402 direct and indirect jobs.
- That year, earnings generated $61.5 million in tax revenue, including $35 million in state taxes and $26.5 million in local taxes.
- The company also makes significant contributions to community and workforce development in Alabama, including $2.9 million in 2021.
To mark its 60th anniversary in the state, Boeing awarded two $60,000 grants to the Boys and Girls Club’s STEM programs and the Huntsville/Madison County Chamber Foundation’s Hiring Our Heroes program.
