NORTH CHARLESTON, S.C. -- Work has officially started on building Boeing's $750 million aircraft assembly plant in South Carolina -- the largest industrial investment in state history.

Multiple media outlets reported that officials scooped ceremonial shovels full of dirt Friday at the site near the Charleston International Airport where Boeing will assemble its 787 jetliners.

The company last month chose North Charleston over Everett for the assembly plant, but Boeing's commercial airplane division president Jim Albaugh says the new plant should bring more jobs to Washington, too.

"I know that there will be some that will say that this is a win for South Carolina and a loss for the state of Washington, and I certainly don't see it that way," Albaugh said.

The North Charleston plant is expected to create 3,800 jobs within seven years and construction will mean another 2,000 jobs. Boeing received an incentive package from South Carolina of up to $170 million.

"Our decision to come to South Carolina is going to be good for our competitiveness. It's going to be good for our company. It's going to be good for the country," Albaugh said.

News of the milestone came on the same day more job cuts were announced by CEO Jim McNerney.

McNerney told ArabianBusines.com the cuts will be "Not in the magnitude of another ten thousand" but the trend will continue downward through 2010.

Boeing is making progress on a couple of programs that have contributed to the downturn, including the 747-8.

Meanwhile, Eyewitness News has confirmed that that first flight of the 787 is currently planned for December 22.