Boeing, Renton agree to lease for municipal airport
May 25, 2010, 03:29 pm
A recent agreement with a city in Washington and Boeing will allow the company to lease space at an airport for 20 years.
According to the city, Renton and the aerospace company reached the consensus on the lease for the municipal airport. The pact includes two 10-year options.
"The signing of this agreement is a momentous day for our city and has cemented Renton as the center of commercial aviation," said Mayor Denis Law.
Boeing will occupy 60 percent of the Renton Municipal Airport for general aviation purposes, including maintenance, storage and manufacturing. The agreement, Law said, would ensure that thousands of the city's Boeing employees would be able to stay in their jobs in the future.
The facilities at the airport used by Boeing help support production of its 737 aircraft. Recently, the company announced it is increasing its output of that airplane to 34 every month in theearly part of 2012.
At present, the company's output of 737s averages 31.5 planes a month, and the need to increase production is based upon customer demand.
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