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JLARC: Aerospace tax preferences still lower industry costs; impact on jobs unclear
Summary
JLARC told House Finance that nine aerospace tax preferences continue to reduce the cost of doing business in Washington and help retain industry presence, but the committee could not determine whether preferences meet legislative expectations for aerospace employment and workforce growth.
JLARC presented its 2024 review of nine tax preferences for Washington’s aerospace industry to the House Finance Committee on Jan. 14 and concluded the preferences continue to reduce costs and support the industry’s presence in the state but leave uncertainty over whether they meet legislative expectations for job growth and workforce development.
Pete Van Moorsil said the nine preferences—a mix of preferential B&O rates, tax credits, sales-and-use exemptions, a…
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