Boeing, Union, Agree To Terms For 777X Project

Washington state will be home to Boeing’s decade-long, 20,000-job project building a new composite wing and assembling  the company’s 777X plane, now that the machinists union has narrowly voted to approve a long-term contract. Just two months ago, the International Association of Machinists and Aerospace Workers turned down a proposed agreement because it would move retirement funds from pensions to 401(k)-style savings plans. But after Boeing approached other states to aggressively shop the project, estimated to have a value of about $20 billion in economic activity, the union this week approved a deal that added better dental coverage and an additional $5,000 bonus to be paid to machinists in 2020.