( CNN ) -- A standoff between Boeing and thousands of unionized workers based in Washington state came to an unexpected end Friday after workers voted in favor of a contract to build the company 's new commercial jet . The deal keeps economic activity worth billions inside the state , and means hundreds of thousands of jobs will be retained . The vote Friday , from the International Association of Machinists District 751 , came in at 51 % to 49 % . It was a dramatic reversal in the machinists ' stance , after they had overwhelmingly rejected a similar contract less than two months ago . The new contract , which will run from 2016 to 2024 , means an end to the traditional pension plan for more than 33,000 machinists at Boeing , replacing it with a 401 ( k ) type of plan . The plan had been a sticking point , but fear of losing jobs and work connected to the jet prompted members to change their minds . Union representatives told media they did n't like the position , but were forced to accept it . Local union officials had pointed to the loss of the pension as the prime reason to reject the deal , also arguing that approving the contract would encourage the company to make continued threats to move work elsewhere in the future in order to win other concessions . However , IAM International leadership had argued the new offer was better than one that was rejected last year , adding about $ 1 billion in value to members . The improvements include an additional $ 5,000 bonus in 2020 and the continuation of the current formula for how new hires move up the pay scale . Jim Bearden , speaking on behalf of the local union president , Tom Wroblewski , said , `` Our members have spoken , and having said that , this is the course we 'll take . No member liked this or the position we were put in by the company . '' `` We faced tremendous pressure from every source imaginable , '' Bearden said . `` Politicians , the media , and others , who truly had no right to get into our business , who were aligned against us . '' Ray Conner , chief executive officer of Boeing Commercial Airplanes , said in a statement that the 777X and the composite wings would now be built in the Puget Sound area , where the company 's plants are based . `` Thanks to this vote by our employees , the future of Boeing in the Puget Sound region has never looked brighter , '' he said . The 777X is Boeing 's answer to the Airbus A350-900/1000 , which competes with Boeing 's current 777 Classic series of jet airliners . The 777 Classic is assembled at Boeing 's production plant in Everett , Washngton , near Seattle . The Classic 's metal wings are built in Japan , shipped to Everett and joined to the fuselage at the Boeing plant . Production of the 777X will begin in 2016 , with a first flight due in 2018 before it goes into service in 2020 . The jet will use carbon-composite wings , which are regarded as the plum of the program . State officials had pulled out all the stops to win the program . Gov . Jay Inslee said losing the 777X to another state would be the beginning of the end of Boeing 's production in Washington , where the company employs nearly 90,000 and drives another 270,000 indirect jobs . Elected officials and others believed that losing the 777X and the composite wings would mean future airplanes would follow the 777X to other states .
Machinists ' union votes in favor of building Boeing 's new jet in Washington state . Boeing and the union disagreed over pension plans but came to an agreement . The 51 % -49 % vote was a dramatic reversal in machinsts ' stance . Comment: