Boeing

The Boeing Company [NYSE: BA] announced today it has completed a land grant to the YMCA of approximately 22 acres of Auburn property that will be vacated for building a new community center.

The new center will enable the YMCA to serve 17,000 individuals of all ages, financial circumstances, abilities and backgrounds in the south King County community. Partnering with the YMCA to use the land, Junior Achievement of Greater Puget Sound also will benefit by building a new experiential learning center for south Puget Sound area students.

The YMCA's 45,000-square-foot facility will address the need for a community center in the Auburn area and allow the YMCA to serve youth and families together in one convenient location. It will include a youth and family gym, youth development center, family areas, adventure zones for kids, a multi-purpose room and health facilities including an indoor pool.

A portion of the remaining acreage will be developed into two soccer fields and two baseball fields. Through the programs offered in this new facility, community members will have improved access to services that nurture the development of healthy youth and families.

"The Boeing Company's donation of land makes this project a reality," said George Frasier, Branch Executive of the Auburn Valley YMCA. "A new and improved YMCA will have a positive impact on the families who are turning to us in growing numbers. Despite the limitations of our overcrowded existing facility, we served nearly 7,000 community members of all ages in 2001, nearly double the involvement in 1994."

Scheduled to open in the summer of 2004, the project is made possible through Boeing's land donation, the YMCA's collaboration with the City of Auburn and contributions from individuals, organizations and companies.

The new Junior Achievement building, one of two campuses in western Washington, will serve approximately 12,500 western Washington fifth-grade students. During the first development phase, JA plans on building a 15,000 square foot facility that will house Enterprise Village and administrative offices. Enterprise Village involves a six-week classroom curriculum that will engage students in critical thinking and learning about business principles, career exploration, banking procedures, economic terms and business decisions as they run their own companies.

During a second phase, JA plans on adding another 15,000 square feet for Finance Park, which will teach eighth-grade students how to create and maintain a personal budget and build a foundation for making personal financial decisions.

"We're so excited about this partnership with Boeing and the YMCA," said David Moore, Junior Achievement president. "Thousands of students will be impacted by the work we are beginning today."

The depth and breadth of the diverse community needs in south King County were a strong impetus for the YMCA and JA to build these new facilities.

"We are extremely proud of being able to help these organizations and the community where Boeing employees live and work," said Liz Otis, Boeing Fabrication Division vice president and general manager.

In a continuing effort to improve operational efficiency, Boeing has decided to vacate the Fabrication Division's Administration office building (17-01) and relocate under 100 employees to another location on site. The relocation is expected to be complete in March 2003. In addition to the administration building, this land grant includes the ball field to the south of the building and an area to the east of the building.

"Since 1966, when this site was founded, much has changed about the way Boeing makes airplanes," Otis said. "Our Lean manufacturing techniques are so successful that the Fabrication Division no longer needs all the acreage and buildings on this site."