BOEING: Residents hopes high for jobs, major influx of money

Boeing's Dreamliner assembly plant has the potential to pump billions into the Lowcountry's economy, lure new business to the region and trigger ripple effects that could impact roads, schools, home sales and more.

Just how large this impact will be is anyone's guess. This is uncharted territory, with the aviation titan opening an entirely new dimension in the region's economy. But hopes are high, with terms like "monumental" and "game-changing" being tossed around like confetti.

"This is a huge win on all levels," said Jennifer DeWitt, executive director of the Lowcountry

Manufacturers Council. "It's just an incredible opportunity for the region."

Some, like Gary Cribb of Bonneau, see that opportunity on a very personal level. A machinist by trade, Cribb has been out of work since January and he's hoping Boeing's arrival signals a change in his fortunes. "I'm definitely excited," he said. "It's going to be a shot in the arm for a lot of people."

Boeing would have to create at least 3,800 jobs and invest more than $750 million in seven years to take advantage of a generous incentive package from the state. Charleston County officials described Boeing's move as the largest, private-sector capital investment in the Tri-County area's history. Early estimates put the plant's economic impact at $2 billion annually starting in 2017, according to the Charleston Metro Chamber of Commerce's Center for Business Research. Others say the impact could be even greater.

Boeing's plant could well increase traffic around the Charleston International Airport and possibly require infrastructure improvements such as new roadways. That increase could also mean a boost for surrounding businesses.

Susan Kettering, bartender at Centre Pointe Bar & Grill in the nearby Tanger Outlet Mall, said the restaurant and other businesses already see a steady stream of customers from the existing Boeing plant. To show its appreciation, the eatery has hosted two parties for the Boeing crowd and will likely hold a big welcome bash to attract the new arrivals. "Boeing is bringing in a lot of people, and we are very excited," she said. "We like their business."

Area apartment complexes also expect to see a boost as new workers settle in, and real estate agents are hopeful home sales will see an uptick as well.

Doug Holmes, an agent with Carolina One Real Estate, said some 10,000 homes are for sale in the Charleston area, about 4,000 to 5,000 more than is healthy. While the number of new Boeing workers arriving in the region wouldn't be enough to conquer this deficit, the announcement can only help sell Charleston as a desirable place to live and work, he said."

"Something of this magnitude certainly makes a difference," Holmes said.

Many officials are comparing the prize to the BMW car plant that opened in the Upstate 15 years ago, a development credited with pumping more than $8.8 billion into South Carolina's economy.

It likely will take a few years for the state to see fully the benefits of Boeing's move, as it did when BMW arrived, said University of South Carolina economics professor Doug Woodward. The Upstate plant eventually attracted a whole network of support industries in addition to the 5,400 jobs it directly created, according to a study he co-authored.

"Like BMW, Boeing is an internationally recognized brand, and I think that will attract the attention of other companies," he said. "It will really put Charleston on the map."

DeWitt, of the Lowcountry Manufacturers Council, agreed. She said every county in the state is home to some supplier related to BMW and Boeing could well have a similar impact. The company's arrival could have a number of side benefits as well, from infrastructure improvements to philanthropic contributions. DeWitt noted that Boeing made a $25,000 donation to the Trident United Way after taking over the Vought Aircraft Industries plant in North Charleston earlier this year.

College of Charleston economist Frank Hefner said it's difficult to accurately predict Boeing's impact on the local economy because the state has no real experience in this industry to draw on. He's not sure if Boeing will have the same draw for supplier businesses as BMW did. Boeing operates on a global model, with a built-in transportation network and parts arriving from all over the world. There may be little incentive for supplier companies to relocate here, he said.

Still, Hefner said, landing Boeing is a "monumental" score for the Lowcountry in terms of the plant's sheer size and its impact on improving the quality and diversity of the region's manufacturing base.

In the Seattle area, Boeing's main manufacturing hub, it's estimated that every job Boeing creates yields two additional jobs in related industries, said Dick Conway, a Seattle economist and regional economic forecaster. That said, Boeing is unlikely to attract a host of suppliers to its North Charleston operation because the company relies heavily on parts that are easily imported. The company's main impact on the Puget Sound economy comes from direct wages to employees and the goods and services they purchase, he said.

The Palmetto State, facing near-record-high unemployment, is buzzing over the prospect of well-paying jobs. Boeing officials aren't saying just how many of those jobs will go to locals, but Summerville resident Scott Carpenter wants to be among the lucky hires.

Carpenter, a 37-year-old father of five, said he worked for years as a top executive in manufacturing firms only to see his positions evaporate in the sour economy. He's been searching for work for seven weeks with little success. He's hoping to land an executive position at Boeing, which would allow him to remain in the Lowcountry without taking a serious cut in pay, he said.

"Boeing is a huge opportunity," he said. "I'm just holding my breath."

Aaron King, 25, of Ladson is doing the same. An industrial painter, he's worked at American La France and with a subcontractor for Force Protection Industries. Of late, however, he's had trouble finding steady, stable work and has traveled as far away as California for jobs, he said. "Work has been slow," he said. "But if I could get on with a company like Boeing, I would be set until I retire."

Allyson Bird and Katy Stech contributed to this article. Reach Glenn Smith at gsmith@postandcourier.com or 937-5556.