The Boeing Co. is moving ahead on $300 million in charitable contributions and workplace investments as a response to the tax bill approved by Congress today.
The commitments were laid out in an announcement from Dennis Muilenburg, Boeing’s chairman, president and CEO. They’re well-timed to demonstrate how the bill’s cut in the corporate tax rate could encourage businesses to open their wallets wider.
“On behalf of all our stakeholders, we applaud and thank Congress and the administration for their leadership in seizing this opportunity to unleash economic energy in the United States,” Muilenburg said. “It’s the single most important thing we can do to drive innovation, support quality jobs and accelerate capital investment in our country.”
Boeing said the $300 million includes:
- $100 million for corporate giving, with funds used to support demand for employee gift-match programs and for investments in Boeing’s focus areas for charitable giving: in education, in community development, and for veterans and military personnel.
- $100 million for workforce development in the form of training, education and other capabilities development to meet the scale needed for rapidly evolving technologies and expanding markets.
- $100 million for “workplace of the future” facilities and infrastructure enhancements for Boeing employees.
“Each of these investments benefits Boeing’s most important strength – our employees – and reflects the real-time impact and economic benefit of the reforms,” Muilenburg said.
Muilenburg said the tax bill’s provisions will make Boeing more competitive with its international rivals.
President Donald Trump’s relationship with Boeing started off on shaky ground when the then-president-elect criticized the multibillion-dollar cost of development for the next Air Force One presidential jets. But Muilenburg quickly mended relations with the White House and has been a strong supporter of the tax plan.
In August, Muilenburg and other Boeing executives hosted House Speaker Paul Ryan for a town hall at the company’s Everett commercial airplane plant, during which the CEO said “this pro-business environment is a big deal.”