Wichita approves $53 million bond requests from Cessna, Learjet

The Wichita City Council on Tuesday approved a mix of industrial revenue bond and tax break requests from two airplane manufacturers and one aviation supplier.

Textron Aviation’s Cessna Aircraft sought IRBs up to $50 million to finance capital investments the company made this year in its Wichita facilities, including more than $33 million in tooling and equipment and nearly $15 million in improvements to its facilities and property.

Bombardier Learjet also sought $3.5 million in IRBs for for its capital investment in the second half of 2015.

Both IRB requests were passed by the council, 7-0.

The council also approved 7-0 a tax exemption on a 60,000-square-foot building expansion by Perkfekta, a manufacturer of precision machined parts and assemblies for the aviation industry.

The company sought a 10-year abatement on the property expansion, which would be subject to review after the first five years.

This story was originally published December 1, 2015 at 12:58 PM with the headline "Wichita approves $53 million bond requests from Cessna, Learjet."