Northern, WI 04/10/2013 (indicesmedia) – The Boeing Company (NYSE:BA) (Current: $87.19, Down by 0.02%) will be investing an additional amount of $1 billion towards expansion of its South Carolina Dreamliner plant. This upgrade will span eight years and will add at least 2,000 jobs. The aircraft-maker is increasing its output of the currently-grounded, composite-plastic aircraft. The investment includes purchasing 320 acres of property for expansion. A Boeing spokesperson, Candy Eslinger, in North Charleston, North Carolina said that in addition to the land acquisition the funds will be channelized towards an information technology center and additional capacity as well.
The interrupted dream
Eslinger said that if the Chicago-based Boeing meets its spending plan, it will also be eligible for $120 million in state incentives. The company has spent $1 billion since 2009 and added 6,000 new jobs at its new plant which was the first one outside the state of Washington. It was just last week that the company had completed testing the new battery system that has been installed on the Dreamliner 787 aircraft. The Dreamliner aircraft hit bad weather when two of its aircraft caught fire in January. Post that, all these aircraft had been grounded and the team has been working very hard to revamp the battery system that had a tendency to get over-heated.
The company has been making every effort to assure the Federal Aviation Administration (FAA) that the new batteries are safe and that the ban on the Dreamliner should be lifted. Boeing supplies aircraft to all the major airlines in the world and had continued production of the aircraft. It is hoping that the aircraft will be able to fly soon.