Wichita City Council approves bonds for Bombardier, Cessna
Two of Wichita's largest plane makers have gotten a boost from city leaders for their plans to diversify products and expand their operations.
The Wichita City Council voted unanimously on Tuesday to approve industrial revenue bond issues to finance expansions and equipment for Bombardier Learjet and Cessna Aircraft.
Bombardier Learjet had sought up to $5.9 million in industrial revenue bonds to help finance capital investments. Its $52.7 million expansion features a flight test center, a center for engineering and information technology, as well as new facilities for paint and a new delivery center.
The expansion makes room for the Learjet 85 and is expected to bring 450 jobs to Wichita.
The council also voted to extend a 2006 letter of intent for Cessna that has an unused balance of more than $521 million in bond financing.
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