Some positive economic news out of Licking County, as a new lease is struck guaranteeing a major employer will stay in the area for five years.
The Boeing Company has signed a lease to continue manufacturing at their Heath facility through 2014, with an option to continue the lease through 2018.
The Heath-Newark-Licking County Port Authority will receive a projected $13 million in revenue from the deal and the lease will help protect the jobs of the company’s 560 employees.
“That’s really the name of the game. We’re not seeing a lot of businesses looking to do new at this time, so the focus is how to we help our existing businesses to expand and really solidify their presence in the community and that’s what this Boeing lease announcement does today, that it signals in a loud way that we’ve got economic stability here in Licking County,” says Rick Platt, president Heath-Newark-Licking County Port Authority.
The extension guarantees the company’s costs will not rise to lease the facility. It also allows Boeing to search for new repair and production work, since they can now do long-range planning.
“It helps give them a sense that we’re going to be here and it also helps us to grow our business because people want to know that you’re going to be here for a long time if they bring work in so that gives them that sense that we’re going to be here,” says Dawn Pettit, Communications The Boeing Company.
The Boeing Company is one of Licking County’s largest employers. Their Heath manufacturing plant is the company’s largest in the state of Ohio.