Boeing Advances STEM Education, Talent in San Antonio with $2.3 Million Investment

Rhea-AI Summary

Boeing (NYSE: BA) has announced a seven-year partnership with the Kelly Heritage Foundation, investing $2.3 million to enhance STEM learning and workforce development in South Texas. This initiative aims to bolster the region's STEM talent and support programming at the San Antonio Museum of Science and Technology. Texas Governor Greg Abbott highlighted Boeing's significant role in the local economy, with a $6 billion impact and a workforce of 16,000. The investment underscores Boeing's commitment to the community and its plans for future workforce development in aerospace technologies.

Positive

• Investment of $2.3 million to enhance STEM education in South Texas.
• Strengthening of Boeing's community ties and local workforce development.
• Governor's affirmation of Boeing's $6 billion economic impact in San Antonio.

Negative

• None.

News Market Reaction – BA

+0.33%

+0.33% Session move

In the trading session that priced this news, BA gained 0.33%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SAN ANTONIO, Jan. 24, 2023 /PRNewswire/ -- A new partnership between Boeing [NYSE: BA] and the Kelly Heritage Foundation - an educational nonprofit organization affiliated with Port San Antonio - will expand STEM learning and workforce development across South Texas. The seven-year partnership and $2.3 million investment will strengthen the region's STEM talent and enhance programming supported by the foundation, including those developed by the San Antonio Museum of Science and Technology (SAMSAT), headquartered at the Port's tech campus.

"Boeing is a crown jewel of American business, and I'm honored that Texas is a key part of their company. For nearly 25 years, San Antonio has been home to an aircraft maintenance and modernization hub, where work on the C-17, F-15, and F/A-18 takes place. Port San Antonio now houses 80 employers and 16,000 workers and has a $6 billion impact on the local economy. Boeing Center at Tech Port will introduce young Texans to the advanced technologies that will drive the workforce of tomorrow," said Texas Gov. Greg Abbott during a ceremony held today at SAMSAT announcing the partnership.

For more than two decades, Boeing's aircraft maintenance and modernization operation has been growing at the Port, furthering its support of an array of military and commercial aircraft.

"This partnership and investment in San Antonio reflect Boeing's commitment to this community and to supporting U.S. and allied military services," said Stephanie Pope, CEO of Boeing Global Services. "We deliver best-in-class products and services for commercial and government customers, and we know a vibrant STEM curriculum will deepen the bench of local talent we hope to hire in the future. Our workforce continues to grow as we expand our site, and we look forward to our bright future in San Antonio."

The Kelly Heritage Foundation's support of programming will focus on developing skills that are key to the aerospace and space exploration industries, including robotics, artificial intelligence, 3-D printing, virtual reality, cybersecurity, visual sensors and more.

As part of its continued role in the community, Boeing also entered into a separate seven-year agreement to sponsor the Port's 130,000-square foot multi-purpose exhibition center now known as the Boeing Center at Tech Port

"From the start, our goal has been to find innovative ways to support San Antonio's development into one of the premier technology communities in the nation," said Port President and CEO Jim Perschbach. "The Boeing Center at Tech Port significantly furthers our momentum by adding exciting and engaging aerospace-focused learning experiences. We're thankful that a leading global name in aerospace like Boeing is further growing its deep roots in our community."

About Port San Antonio:
The Port is a vast 1,900-acre technology innovation campus. It is home to a growing array of employers—including globally renowned industry names and a growing number of locally headquartered startups—focused in advancing new technologies in aerospace, cybersecurity, defense, space exploration, robotics and other advanced technologies. Organizations at the Port directly employ over 16,000 people from across the region, yielding a regional economic impact of over $5.6 billion annually. In 2022, the Port became a member of the Association of University Research Parks (AURP).  

About Boeing:
As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Within Texas, Boeing employs more than 5,730 employees and has an estimated economic impact of $1.6 billion. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers.  

Contact  
Ben Davis
Boeing Communications
405-694-9600
benjamin.a.davis2@boeing.com 

Jason Capeheart 
Boeing Communications
703-209-5560
jason.s.capeheart@boeing.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/boeing-advances-stem-education-talent-in-san-antonio-with-2-3-million-investment-301729809.html

SOURCE Boeing

FAQ

What is Boeing's latest investment in San Antonio?

Boeing announced a $2.3 million investment to support STEM education in San Antonio.

How long is Boeing's partnership with the Kelly Heritage Foundation?

The partnership between Boeing and the Kelly Heritage Foundation lasts for seven years.

What will the Boeing investment focus on?

The investment will focus on enhancing STEM learning and workforce development across South Texas.

What impact does Boeing have on the San Antonio economy?

Boeing has a $6 billion economic impact on the San Antonio region.

How many employees does Boeing have in Texas?

Boeing employs over 5,730 people in Texas.