The Wichita City Council on Tuesday approved an industrial revenue bond issue for Product Manufacturing’s 66,000-square-foot expansion plans in southwest Wichita.
The $3.1 million expansion at 4626 S. May will add 40 jobs over the next three years at an average wage of just under $50,000 a year, said Allen Bell, the city’s urban development director.
In addition, the company plans to buy $3.2 million in new equipment for the expansion project.
Product Manufacturing also will receive a 100 percent property tax exemption for five years as part of Tuesday’s action, with another five years possible if the company delivers on the new job creation and capital promised in today’s presentation to the council.
The company is preparing for an aviation upturn, city officials said, driven by outsourcing work from original equipment manufacturers. Rick Wolf, the company’s chief executive, did not return a call seeking comment for this story.
Council member Michael O’Donnell called Product Manufacturing and its partner companies “a jewel of Wichita aviation.”
“I had an opportunity to go take a tour of Atlas, and it was a very rewarding experience, a massive campus on 20 acres in southwest Wichita,” he said. “I’m excited to be able to be a part of this.”
Product Manufacturing and its holding company, Atlas Aerospace, operate through Product Manufacturing and Wichita Aerospace Spares, according to city documents. Product Manufacturing machines, fabricates and assembles a wide range of aluminum, steel, titanium and other metal parts for commercial and defense airplanes. Wichita Aircraft Spares manufactures and assembles parts for existing aircraft.