CHARLESTON, S.C. Dec 13 Boeing Co has
obtained a $1-a-year lease for 468 acres (189 hectares) of state
land near its factory in South Carolina, nearly double the
amount expected for a planned expansion, a spokeswoman for the
planemaker said on Friday.
Besides 267 acres (108 hectares) it had planned to lease
from the Charleston County Aviation Authority, Boeing added
another 201 acres (81 hectares) of North Charleston land that
had been privately owned to the deal, spokeswoman Candy Eslinger
Boeing did not say what it plans to build on the land.
Palmetto Railways - a division of the South Carolina
Department of Commerce - paid $49 million for the land, a
department spokeswoman said. It will lease the property to
Boeing for $1 a year until 2027, when the company can opt to buy
All 468 acres were bought with state bond funds allocated to
Boeing, Eslinger said.
Boeing also announced on Friday that it would begin
construction next year on a new 230,000-square-foot paint
facility on its main campus in North Charleston.
The company said it expected to begin painting fully
assembled 787 Dreamliners in South Carolina in mid-2016.
Boeing leases the 264 acres that its 787 final assembly
plant sits on for $1 a year from the Charleston County Aviation
Authority. The lease term on that land is up in 2025, when
Boeing has the option to purchase it.