Sedgwick County commissioners on Wednesday approved a $90,000 forgivable loan to Apex Engineering International for new machinery and upgrades to its facility in Wichita.
The money also will be used to relocate some machinery and equipment at 1804 W. Second St.
Commissioners voted 3-1 to OK the loan. Commissioner Karl Peterjohn voted against it, citing his longstanding belief that elimination of property taxes for everyone would benefit all businesses and residents and that government does not create jobs. Commissioner Richard Ranzau was absent. Commissioners Tim Norton, Jim Skelton and Dave Unruh voted to approve the loan.
In exchange for the money, Apex has agreed to add 90 jobs next year and 18 in 2016 for a total of 276. The company has a base employment of 168 full-time positions with an average annual salary of $49,597. The average annual salary of new positions is expected to be $35,363. Apex also will invest a minimum of $5.9 million in new equipment, machinery and building improvements.
The vote brought out leaders from the Wichita Metro Chamber of Commerce, who said the loan was a good investment, not an expense, for the county.
Apex supplies parts, assemblies and integrated components for the aerospace industry. Its biggest customer is Lockheed Martin, but the company also does work for Boeing, HondaJet, Spirit AeroSystems, Gulfstream, Bombardier Learjet and others.
The company produces aircraft parts and assemblies for both new and existing aircraft.
The Wichita City Council recently approved a $90,000 forgivable loan to Apex for capital improvements.
The county also gave Apex a $220,000 forgivable loan in 2011.