AEROSPACE & DEFENSE

Arizona Moves to Keep Defense Jobs: Officials billed new legislation as the first benefits package offered by any state designed specifically to attract and retain defense manufacturers. Effective July, 1993, the state will offer up to $2,500 in first-year corporate income tax credits for each defense employee added to a company’s Arizona payroll. Defense employers will also get up to 40% property tax credits by adding jobs at Arizona plants. Pushed by Gov. Fife Symington, the Omnibus Bill for Defense Restructuring was a response to Arizona’s projected loss of 17,000 of its 79,000 defense and military jobs between now and 1996 because of base closings and defense budget cutbacks. The bill is meant to attract consolidation of Hughes Aircraft missile business to an underutilized plant in Tucson.