Boeing top brass, investors visiting North Charleston
Much has been made recently about the growth of Boeing S.C. and its rising profile within the Chicago-based company.
While Boeing plans to cut thousands of jobs from its historic base around the Puget Sound, the North Charleston operation is poised for a major spurt, including another hiring spree and plant expansions.
Earlier this month, the state’s top political brass and the company’s top lawyer convened there to celebrate a deal wherein Boeing will invest $1.1 billion and hire 2,000 more people in exchange for $120 million in infrastructure support and various other tax benefits.
The sun shone brightly on Boeing S.C. that day, and the spotlight will return this week as top executives and investors descend on the site for Boeing’s annual investor meeting.
Boeing declined to confirm the location, but a couple of analysts did. In a research note subtitled “Expecting Southern Charm at Investor Day,” Citigroup’s Jason Gursky said the Tuesday-Wednesday event will feature a facility tour and good news from management.
“Boeing has a lot of hope for Charleston’s long-term potential in driving the 787 production rate above 10/month, a point we expect Boeing to highlight since it is holding its Investor Day in South Carolina,” Gursky wrote.
In a Friday note subtitled “Some Things to Think About on the Plane to Charleston,” Barclays analyst Carter Copeland wrote: “We expect investors to be impressed with the Boeing South Carolina ... facility and leadership ... as we were when we visited the facility last August for the first time since it was still owned by Vought back in 2007.”
That seems likely, as the site is the picture of progress: construction on one side, full factories in the middle, and as many as seven finished airplanes lined up on the other side.
While Boeing has not disclosed the entire schedule of events, the company has said Wednesday morning’s presenters will include Boeing CEO Jim McNerney and finance chief Greg Smith.
The presentation’s will run from about 7:30 to 10:40 a.m. and can be heard via webcast or the investor page on www.boeing.com.