Members of the International Association of Machinists and Aerospace Workers (IAM) District 751, will vote on a proposal from the Boeing Co. that, if approved, would guarantee the Boeing 777X wings and fuselage will be built by IAM members in the Puget Sound, according to an Machinist news release.

In exchange for the 777X guarantee, Boeing proposes a new eight-year labor agreement that will expire in September 2024, providing an unprecedented degree of labor stability in the volatile and competitive industry, according to the release.

“Securing the Boeing 777X for the Puget Sound means much more than job security for thousands of IAM members,” said District 751 Directing Business Representative Tom Wroblewski. “It means decades of economic activity for the region and will anchor the next generation of wide-body aircraft production right here in its historic birthplace and will complement the 737MAX narrow body.”

Boeing did not have an immediate comment on the agreement.

According to estimates, the 777X could mean as many as 10,000 direct and 10,000 indirect jobs in the immediate vicinity, with the project also serving as a long-term hub for advanced technology in electronics, avionics and composite technology required by the 777X.

The proposal by Boeing includes additional modifications to the current labor agreement, including cessation of pension accruals for current employees and the establishment of an alternative company-funded retirement plan. Additionally, within 30 days of ratification, all members would be paid a $10,000 signing bonus, according to the release.

About an hour after the IAM announcement, Gov. Jay Inslee announced that a special session of the Legislature will begin on Thursday, with Boeing-friendly legislation on the agenda, according to the Everett Herald.

He said Boeing officials have assured him in “clear, unequivocal and concrete terms” that the 777x and its carbon-fiber wing will be built in Washington if lawmakers approve the package and the union ratifies the contract extension, according to the Herald.

“It is a lead-pipe cinch that we will land this airplane if we do the two things we need to do,” Inslee said.

Full details of all changes in the proposal will be provided directly by District 751 and W-24 to IAM members as soon as printing can be completed. A schedule of ratification voting is also being prepared and will be communicated directly to IAM members.

“Only a project as significant as the 777X and the jobs it will bring to this region warrants consideration of the terms contained in Boeing’s proposal,” said Wroblewski. “While not all will agree with the proposal’s merits, we believe this is a debate and a decision that ultimately belongs to the members themselves.”

The IAM represents more than 35,000 Boeing workers and is among the largest industrial trade unions in North America.