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JLARC: Aerospace tax preferences still reduce costs, but employment targets unclear
Summary
JLARC told the House Finance Committee that Washington's nine aerospace tax preferences reduce industry costs and support wages, but without defined employment targets the auditor could not determine whether preferences are meeting workforce-growth expectations.
The Joint Legislative Audit and Review Committee presented a 2024 review of nine tax preferences benefitting the aerospace industry to the House Finance Committee on Jan. 14.
JLARC reported the preferences lower effective tax costs for aerospace firms and concluded they continue to meet stated legislative goals to lower costs, maintain industry presence and encourage strong wages. The package includes preferential…
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