Cargill seeks IRBs for plant modernization

Cargill is asking the Wichita City Council for up to $14 million in industrial revenue bonds to pay for new machinery and equipment at its plant at 1401 N. Mosley.

Cargill plans to expand the plant, which processes soy beans and extracts the oil, and modernize equipment.

The renovation of the plant will help preserve 45 jobs, according to the application.

Industrial revenue bonds do not involve taxpayer funds but do exempt property purchased with the bonds from state and local taxes.

The council is to discuss the issues Tuesday.