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Boeing bombshell adds a new element of uncertainty
The Boeing Co. will remain an economic linchpin of the region despite its sudden announcement that it will move its headquarters out of state, but the blow will resonate in many quarters for a long time to come.
Gary Kamimura, economist for the state Department of Employment Security, predicted the impact of the 1,000 jobs lost in the headquarters move will be "relatively minimal."
"I think the psychological impact at this point is probably greater than economic impact," he said. "It does show those who might be watching and listening that the company is not afraid to pull the trigger. It is not going to be wedded to history."
Local union leaders are worried the shift will reduce their bargaining leverage with the company Nonprofits are concerned that the region's largest employer will fade in its support of charitable and artistic organizations. And the unexpected news comes at a time when the region's other economic sectors, even the so-hot high-tech industry, are also faltering.
But officials from the governor on down said state and local tax revenues probably won't suffer because business-and-occupation taxes and property taxes are assessed on the company's business activity and facilities in Washington, regardless of where the …