HBA-EDN H.C.R. 249 77(R) BILL ANALYSIS Office of House Bill AnalysisH.C.R. 249 By: Wohlgemuth Economic Development 4/29/2001 Introduced BACKGROUND AND PURPOSE Boeing, the world's largest producer of commercial jetliners and a global leader in the aerospace industry, announced on March 21, 2001, its plans to move its corporate headquarters from Washington state to a more central location in a culturally diverse area with a strong pro-business environment and an international airport system that offers ready access to global markets and to major Boeing operations, customers, and financial centers. Three prospective metropolitan areas are under consideration, one of which is the Dallas/Fort Worth (DFW) area. Texas has long been an ideal business location due to its abundant natural resources, low energy costs, central location, robust pro-business environment, and lack of personal or corporate income taxes. The state has implemented cutting-edge economic development initiatives, including research and development tax credits, workers' compensation system reform, and financial incentives such as tax abatements, fee rebates, and enterprise zones. The DFW area has one of the largest and busiest international airports in the world, and its young, diverse, and well-educated workforce has contributed to the area's status as a hub of high technology, research, and emerging industries. The region has the fifth-lowest cost of living of the major U.S. metropolitan areas, one of the least expensive metropolitan housing markets in the nation, and a multitude of cultural and recreational amenities which make living and working in the DFW area a pleasure. House Concurrent Resolution 249 encourages Boeing to move its corporate headquarters to the DFW area. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this resolution does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS House Concurrent Resolution 249 encourages Boeing to move its new corporate headquarters to the Dallas/Fort Worth area.