Business

City approves forgivable loans for Airbus

The city will give Airbus North America Engineering a $200,000 forgivable loan as an incentive to add to its operation with a new office in the former Kansas Sports Hall of Fame building in Old Town.

Wichita City Council members unanimously endorsed the cash incentive this afternoon.

Sedgwick County Commissioners will vote whether to approve an additional $200,000 cash incentive on Wednesday.

Under terms of the forgivable loan, Airbus will add 80 jobs within three years with average annual salaries of $126,000. If Airbus doesn't meet those terms or leaves Wichita, it will have to repay the loan.

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