Creates the Washington state aerospace training and coordination institute to enhance the vitality of the aerospace industry by coordinating, providing, and developing curricula for a statewide consortium of schools and programs that provide aerospace workforce education and training.

Creates the center for aerospace technology innovation to lead a collaborative effort between the state's universities, private industry, and government for the aerospace industry.

Requires the University of Washington, Washington State University, and the department of commerce to work cooperatively with the private sector in the development and implementation of research and new technology.

Provides a retail sales tax exemption to certain four-year institutions.

Creates the Washington aerospace futures account.

Makes an appropriation.