Don Erickson, a Lockheed Martin official in South Carolina, was asked at a recent forum about the Export-Import Bank. Erickson repeated the justifications for Ex-Im, but also suggested that killing the agency might increase South Carolina’s employment — specifically its Boeing employment.
“If Ex-Im Bank went away, would [Boeing] be needing to build the 777 in Charleston, along with the 787? Maybe,” Erickson said.
That is, Ex-Im subsidizes inefficient behavior by Boeing in a similar way that U.S. protectionism hobbled Detroit automakers.
Also, Erickson makes an important point when he says Ex-Im gives Boeing “a competitive advantage over some other folks” — presumably meaning Lockheed. Ex-Im isn’t subsidizing the Boeing products that compete with Lockheed, but by subsidizing Boeing in any regard, it can hurt Boeing’s competitors in other regards.
