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800 Boeing Jobs Taking Off From Long Beach By End of 2012

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Boeing has announced they will be packing up and heading out of their Long Beach offices in favor of Oklahoma City, and the move will cost 800 jobs, according to the LB Post.

Of the 800 jobs, 550 are positions that will be moved to Oklahoma City, while the remaining 250 will simply be eliminated. That loss deals "a major blow to the local aerospace industry," says the Chief Economist of the Los Angeles County Economic Development Corporation (LAEDC), noting that the industry has a long relationship with Long Beach.

Despite tax breaks and other incentives for doing business in the Enterprise Zone of Long Beach, Boeing cites a need to cut costs as reason for their 2011-2012 move to Oklahoma City, where the same work can be done for cheaper, and where the business will also receive incentives. In turn, Boeing asserts, those cost savings can be passed on to their clientele, which "is almost entirely the Federal Government."