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JLARC: Aerospace tax preferences still lower costs and keep industry presence, but employment metrics unclear
Summary
JLARC concluded Washington’s aerospace tax preferences continue to reduce costs and support a large aerospace industry presence but said the legislature lacks a performance metric to judge whether the preferences meet employment targets; JLARC recommended clarifying expectations and suggested returning to a 10-year review cycle.
Joint Legislative Audit and Review Committee staff told the House Finance Committee the state’s package of nine aerospace tax preferences continues to lower the effective cost of doing business and supports Washington’s large aerospace sector, but the auditor said there is no defined metric to show whether preferences meet the legislature’s employment expectations.
JLARC staff reported the preferences were estimated to save roughly $205 million in the 2028–29 biennium under existing law and that beneficiaries saved about $95 million in fiscal 2022 (down from $260 million in 2018 after repeal of a preferential manufacturing rate due to a WTO dispute). The auditor said Washington still…
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