Study shows significant job creation, productivity gains by maximizing industrial engagement with Boeing
COPENHAGEN, Denmark, Oct. 30, 2014 – DAMVAD, a leading Danish economic consultancy, today released results of an economic study commissioned by Boeing [NYSE: BA] that quantitatively analyzes the capabilities of Danish industry. The study also analyzes Boeing’s capabilities in comparison, and how Boeing and Danish industry’s complementary strengths can be maximized for benefit to Denmark.
The study’s findings show that collaboration between the Danish defense industry and Boeing in areas of corresponding strengths could result in the creation of more than 10,000 jobs in Denmark and the addition of 6 billion DKK to Denmark’s GDP over 20 years.
Additionally, DAMVAD analyzed the potential of Boeing collaboration in Danish industrial strengths outside of the defense industry. Due to Boeing’s emphasis on research, development and technology transfer, such collaboration could lead to long-term productivity gains ultimately resulting in a 400 million DKK permanent increase to the Danish economy each year.
“This is the most in-depth research of industrial engagement in Danish industry conducted to date because of our approach, which involved identifying strongholds across all Danish sectors through research on patents, publications, export specialization and other factors,” said Kristian Mørk Puggaard, CEO, DAMVAD. “Through the same rigorous process, we identified matching Boeing strongholds and modeled the economic benefits in scenarios where the corresponding strongholds were maximized. The data-driven results give new insights in terms of future growth of our economy related to industrial engagement from a foreign company like Boeing.”
Boeing commissioned DAMVAD to conduct the study in order to determine the theoretical potential to collaborate across Danish industry in preparation for building its industrial plan related to the F/A-18 Super Hornet offering to Denmark.
“Competing for a country's business is about more than selling aircraft; it's about creating long-term partnerships across government, industry and the community,” said Debbie Rub, vice president and general manager of Global Strike for Boeing Defense, Space & Security. “DAMVAD's study demonstrates the collaboration between Boeing and Danish industry to produce widespread mutual economic benefit and technological growth for decades to come.”
“We wanted a deeper understanding of the capabilities of Danish industry, and we wanted to consider all the ways that Boeing could align with that industry instead of limiting ourselves,” said Gwen Kopsie, vice president of International Strategic Partnerships for Boeing Defense, Space & Security. “We needed to go beyond traditional industrial surveys to do that. DAMVAD’s data help inform a long-term and sustainable plan for doing business with Danish industry.”
DAMVAD is a specialized policy and economics consultancy with teams in Copenhagen, Stockholm and Oslo. The company’s experienced economists work to provide evidence and impact based on big data, advanced econometric methodology, vast register-based data and patent and publication data. Through deep data and analytic insight, they provide comprehensive professional and policy insight.
A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world’s largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $33 billion business with 56,000 employees worldwide. Follow us on Twitter: @BoeingDefense.
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