Boeing expected to move headquarters from Chicago to DC area

Boeing Co., a number one protection contractor and one of many world’s two dominant producers of airline planes, is predicted to maneuver its headquarters from Chicago to the Washington, D.C., space, in accordance with two folks acquainted with the matter.

The choice might be introduced as quickly as later Thursday, in accordance with one of many folks. Each spoke on situation of anonymity as a result of they weren’t approved to debate the matter publicly earlier than Boeing’s announcement.

Boeing didn’t instantly remark.

The choice was first reported by The Wall Road Journal.

A transfer to Arlington, Virginia, would put Boeing executives near officers for his or her key buyer, the Pentagon, and the Federal Aviation Administration, which certifies Boeing passenger planes.

Boeing’s roots are within the Seattle space, and it has meeting crops in Washington state and South Carolina. The corporate moved its headquarters to Chicago in 2001 after an unusually public search that additionally thought of Dallas and Denver.

Boeing had 142,000 staff on the finish of 2021, together with 12% based mostly exterior the US, in accordance with a regulatory submitting. The submitting didn’t say what number of work in Chicago.

“They received’t get pushback since their Chicago workforce and business presence is minimal,” mentioned Richard Aboulafia, an analyst with guide AeroDynamic Advisory. “Since D.C. is dwelling to their largest single buyer, it makes some sense, but it surely’s a a lot much less spectacular transfer than going again to Seattle.”

The transfer would mark a win for Virginia’s Republican Gov. Glenn Youngkin, who campaigned final 12 months partially on a promise to convey new jobs to the state.

Youngkin, who retired in 2020 as co-CEO of personal fairness big the Carlyle Group, was personally concerned in discussions in regards to the transfer and had a previous enterprise relationship with Boeing CEO David Calhoun, in accordance with one of many folks acquainted with the matter.

Democratic state Senate Majority Chief Dick Saslaw mentioned he had not been suggested of the transfer but when it got here to fruition it could be “one hell of a catch” for Virginia.

“We’re fortunate to get them,” he mentioned.

Suzanne Clark, spokeswoman for the state’s financial improvement company, mentioned that for “aggressive causes and to guard confidential firm info,” the company can’t touch upon present or potential financial improvement prospects.

Kelly Rindfusz, director of communications for Arlington Financial Improvement, additionally declined to remark.

The information comes a number of years after Amazon chosen Arlington as the positioning for a second headquarters.