Boeing’s Delayed Deliveries Lead to 2 Million Dollar Shortfall for Everett’s Current Budget.

It what she called, “very depressing numbers” Everett Chief Financial Officer Debra Bryant told the Everett City Council Wednesday night that current B&O collections are two million dollars under projections due to Boeing’s delays on delivering aircraft, especially the 787. Everett can’t collect the B&O tax on planes delivered out of Everett until the sale of the plane is complete, and that means delivered. With the 787 way behind schedule and other issues in delivery of 747s, Everett now has a two million dollar hole in this year’s financial picture. Drive past Paine Field and you’ll see airplanes parked all over the place awaiting delivery. On the bright side, Boeing is ramping up hiring at Everett and that means more money coming into the general Everett economy thru local sales taxes, people moving into the city, etc. The big driver though, for Everett’s budget, is the B&O tax paid by Boeing when they sell an Everett built airplane. Hopefully deliveries will pick up soon.
In other Everett financial news, current Everett City Budget Director Janet Love attended her last City Council Meeting last night. She is retiring after 17 years with the City.