Tax Credits Ensure Viability

April 15, 1953. Tax day again. It also marked the last time the U.S. lost a soldier from an enemy air attack. This remarkable achievement is due to outstanding pilots and superior aircraft produced by the U.S. aerospace industry, and the finest engineers, scientists and mechanics in the world. That work force won the Space Race and Cold War for the U.S., and, in the process, created one of America’s leading industries that provides almost one million jobs and supports another two million. Last year, it produced a $57 billion surplus, the largest of any manufacturing sector.

Often overlooked, aerospace enjoys similar success in Oklahoma. The industry has an economic output of more than $12 billion — 10% of Oklahoma’s total; provides 144,000 direct and indirect jobs with an average salary of $55,000, about twice the average salary in Oklahoma; and is Oklahoma’s top export with sales of $320 million in 2011. Tinker AFB, the world’s largest military aircraft repair facility, is Oklahoma’s largest single-site employer, providing 28,000 jobs. The American Airlines base in Tulsa, the world’s largest commercial aircraft repair facility, provides 7,000 jobs, and the FAA Monroney Center provides another 7,000-plus jobs.

Great story, one made possible by a work force and intellect second to none. That work force is retiring at an alarming rate but the danger is most serious in engineering. Engineering is the core of success for aerospace companies and agencies. The fact is that we are not replacing those retiring or keeping pace with China or India.

Click here to read the entire article: