Boeing applauds tax bill with $300 million workforce-related and charitable investment plan
By Tomi Kilgore
Published: Dec 20, 2017 1:16 p.m. ET
TomiKilgore
Reporter and editor
Boeing Co. BA, -2.28% said Wednesday it will earmark a total of $300 million on workforce-related and charitable investments, as the aerospace and defense contractor celebrated the Republican tax bill. Boeing said it was still studying the provisions of the new tax legislation, but Chief Executive Dennis Muilenburg applauded the bill, saying it will help "unleash economic energy" in the U.S. "It's the single-most important thing we can do to drive innovation, support quality jobs and accelerate capital investment in our country," Muilenburg said in a statement. The company said it would spend $100 million for workforce development, $100 mililon for 'workplace of the future' facilities and $100 million for corporate giving, such as employee gift-match programs. The stock rose 0.5% toward a record high in midday trade. It has soared 16.9% over the past three months, while the Dow Jones Industrial Average BA, -2.28% has climbed 10.5%.
Boeing Co. U.S.: NYSE: BA