The Government and Boeing are expected to announce a long-term partnering initiative to advance growth and prosperity in the UK this week at the Farnborough International Airshow.
According to Boeing, the shared vision for the initiative is to deliver the best capabilities to the UK’s armed forces, alongside delivering additional, enhanced prosperity for the country in partnership with the supply chain and public sector agencies.
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The aerospace giant is reportedly committed to a long-term strategy for increasing investment in the UK, largely in recognition of the capabilities and opportunities presented by its world leading aerospace and defence industry.
Boeing has doubled its UK workforce and more than doubled its annual spending with the UK supply chain over the past five years, to more than 2,000 people and £1.8bn respectively in 2015.
This growth plan is expected to result in a further 2,000 new jobs in the UK, alongside increased capital investment and additional bidding opportunities and competitiveness initiatives for UK suppliers.
The shared ambition of this initiative is to enhance competitiveness to create the opportunity for UK companies to double their supply work with Boeing as production rates are achieved on new and current aircraft programmes.
Progress is expected to be reviewed at a bilateral Boeing Ministerial meeting each year at the Farnborough and Paris air shows, starting at Le Bourget in 2017; with discussions led by a senior UK Government minister and a member of Boeing’s Executive Council.
The partnering initiative aims to see Boeing:
- increase overall bid opportunities offered to UK suppliers and work with the UK Government to enhance UK suppliers’ competitiveness.
- sign the Aerospace Growth Partnership Supply Chain Competitiveness charter.
- make the UK its European base for training; maintenance; repair, and overhaul across its defence fixed-wing and rotary platforms.
- and the Government intend to work together to build a new £100m P-8A operational support and training base at RAF Lossiemouth in Scotland, creating more than 100 new jobs.
- continue to grow its commercial aviation services business in the UK.
- make the UK a base for defence exports to Europe and the Middle East, increasing UK employment, investment and tax revenue.
- increase its contribution to the security; policing; cyber; IT, and space sectors in the UK, including by joining the Security and Resilience Growth Partnership and establishing a presence in the UK space sector during 2016.