Daily Press

Boeing says it will shift headquarte­rs to Virginia

Youngkin involved in discussion­s about move from Chicago

- By David Koenig and Sarah Rankin

Boeing Co. said Thursday it will move its headquarte­rs from Chicago to the Washington area, where company executives would be closer to key federal government officials.

The company said it will use its campus in Arlington as its new headquarte­rs, and it plans to develop a research and technology hub in the area.

“The region makes strategic sense for our global headquarte­rs given its proximity to our customers and stakeholde­rs, and its access to world-class engineerin­g and technical talent,” Boeing CEO David Calhoun said.

The move marks a win for Republican Gov. Glenn Youngkin, who campaigned last year on a promise to bring new businesses and jobs to the state.

“The decision to call Virginia home shows that the Commonweal­th is the premier location for aerospace companies,” Youngkin said in a statement. “I look forward to working with Boeing to attract even more talent to Virginia especially given its reputation for engineerin­g excellence.”

Youngkin retired in 2020 as co-CEO of private equity giant the Carlyle Group. He was personally involved in discussion­s about the move and had a prior business relationsh­ip with Calhoun, who also was an executive in the investment industry, according to a person familiar with the matter who was

not authorized to discuss the negotiatio­ns publicly.

A spokeswoma­n for the state’s economic developmen­t agency said the project will not receive any state incentives. A spokeswoma­n for the county’s economic developmen­t office did not immediatel­y respond to questions about whether Boeing had been offered local incentives.

Boeing is a major defense contractor, and the move will put executives close to Pentagon leaders. Rival defense contractor­s, including General Dynamics, Lockheed Martin and Northrop Grumman, already are based in the D.C. area.

Company executives would also be near the Federal Aviation Administra­tion, which certifies Boeing passenger and cargo planes. Boeing had 142,000 employees at the end of 2021, according to a regulatory filing. The filing did not say how many work in Chicago.

Many Virginia officials celebrated the news.

Democratic U.S. Sen. Tim Kaine, a member of the Senate Armed Services Committee, said Boeing’s decision was a testament to Virginia’s skilled workforce and strong national security community.

U.S. Sen. Mark Warner, also a Virginia Democrat, indicated the deal had been in the works.

“For well over a year, I’ve been making my case to Boeing senior leadership that Virginia would be a great place for its headquarte­rs, and late last year, I was happy to learn that my efforts were successful,” he said in a statement.

 ?? RICHARD DREW/AP ?? A move to Arlington would make sense for Boeing because it would put company executives close to officials for their key customer, the Pentagon, and the Federal Aviation Administra­tion, which certifies Boeing passenger planes.
RICHARD DREW/AP A move to Arlington would make sense for Boeing because it would put company executives close to officials for their key customer, the Pentagon, and the Federal Aviation Administra­tion, which certifies Boeing passenger planes.
 ?? ?? Youngkin
Youngkin

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