Business
12:50 pm
Thu January 9, 2014

Inslee Bemoans Corporate Incentive Competitions

Washington Gov. Jay Inslee wishes states weren't in constant competition to provide financial incentives in order secure jobs from big companies.

Inslee said Thursday he would like to see a national agreement among states to make that sort of subsidy escalation illegal. That comes after Washington approved perhaps the largest corporate tax break in U.S. history — valued at nearly $9 billion — in order to convince Boeing Co. to build a new airplane in the state.

Boeing recently explored bids from 22 states who wanted to secure the thousands of jobs that would come with production of the 777X. The company has promised to build the plane in the Puget Sound region after getting extended tax breaks from state lawmakers and concessions from union workers.