"Boeing NewGen Tanker Win Would Bring 580 Jobs, $30 Million to New York."
So boasted Boeing
In recent weeks, we've seen a plethora of similar announcements from defense contractors spooked by the spectre of Pentagon budget cuts. In duels reminiscent of election-year mudslinging campaigns, United Technologies
What's in it for me?
According to Boeing's latest PR puff piece, if New York's legislators help pressure the Pentagon to award it the KC-X contract, New York will make out like a bandit. Boeing said the Empire State could score "580 total jobs" and a $30 million "annual economic impact" as the aerospace giant parcels out subcontracts to companies with a New York presence, including BE Aerospace
Sweet deal, right? But just for fun, let's take Boeing's press release and shuffle the numbers around a bit, to see what Boeing's really saying here.
Out of the "nearly 732 suppliers/vendors" with which Boeing works in New York, only 13 are named as producing "critical" KC-X components. While KC-X could bring 580 jobs to New York, Boeing employs just 85 people there today. And if KC-X could bring $30 million in new revenue, Boeing already "delivers" an $871 million "annual economic impact" to the state. In other words:
- Fewer than 2% of New York-based businesses would benefit from KC-X.
- Out of 157,100 jobs spread across the globe, Boeing has hired just 85 New Yorkers -- 0.05% of its workforce.
- KC-X would increase New York's impact from Boeing by less than 3.5%.
Much ado about nothing
I doubt we'll see Boeing's PR department advertising the above bullet points any time soon. But they do help put things in perspective for New Yorkers. Simply put, KC-X just isn't that big a deal to the Empire State.
Boeing, quit wasting taxpayer dollars building "economic impact" mountains out of PR molehills. Focus on building a good plane and controlling costs. Then, when you beat EADS and win the KC-X, we'll be cheering along with you.