The Wichita City Council will consider next Tuesday $7.5 million in industrial revenue bonds for Etezazi Industries, which is expanding and plans to more than double its workforce.
The 10-year-old aircraft supplier at 2101 E. 21st is requesting issuance of bonds for a $3.5 million expansion to its 11,500-square-foot facility, and $4 million for the purchase of new machinery and equipment, according to city documents.
The company founded by Masoud Etezazi plans to hire 45 more employees over the next five years at a minimum average annual salary of $42,000, the documents said. It currently employs 30 people.
Etezazi Industries is a supplier of components and parts to Spirit AeroSystems, Textron Aviation, Triumph Group and Atlas Group.
The building expansion entails the addition of 27,000 square feet for manufacturing and 3,100 square feet for storage, the documents said.
The request for the issuance of bonds follows council approval in February of a letter of intent to issue up to $10 million in IRBs to Etezazi.
Etezazi’s expansion and job creation would qualify it for a five-year property tax abatement on the new construction and equipment, which is renewable for an additional five years, the documents said. It would also be exempt from sales tax on the construction materials and equipment, the documents said.