Citation
(2009), "Aerospace can bolster US economy in challenging times", Aircraft Engineering and Aerospace Technology, Vol. 81 No. 3. https://doi.org/10.1108/aeat.2009.12781cab.040
Publisher
:Emerald Group Publishing Limited
Copyright © 2009, Emerald Group Publishing Limited
Aerospace can bolster US economy in challenging times
Article Type: News and views From: Aircraft Engineering and Aerospace Technology: An International Journal, Volume 81, Issue 3
The aerospace and defense industry is a source of economic strength that should be tapped in the stimulus bill to help lead our nation out of very challenging times, AIA President and CEO Marion Blakey said.
Speaking during a recent National Aeronautics Association luncheon, Blakey said one way to take advantage of the industry’s strength would be to include several aviation infrastructure provisions in the bill.
“Additional investment would increase the economic benefits our industry provides”, Blakey said.
Dedicating $4 billion to fast-track implementation of the NextGen air transportation system modernisation would reap huge economic and environmental rewards for decades to come.
Two other steps the authors of the stimulus should take are making the R&D tax credit permanent and repealing the 3 per cent withholding rule. These steps would boost innovation and keep cash generated by the industry in the economy rather than government budgets.
“The biggest mistake would be to cut defense and space investments, making our industry a bill payer for other industries that are asking the government to bail them out”, Blakey said. “This would diminish our strength and momentum in the recovery and cost thousands of high-paying jobs. And that, I’m sure we all agree, would be a very bad move right about now.”
Blakey gave an overview of the aerospace industry, highlighting the fact it is still showing modest growth in important measures like overall sales and employment during a timeframe when many other industries have seen dramatic downturns.
Founded in 1919, the Aerospace Industries Association represents the leading American manufacturers and suppliers of civil, military, and business aircraft, helicopters, unmanned aerial systems, space systems, aircraft engines, materiel, and related components, equipment services, and information technology.