Hawker Beechcraft Corporation (HBC) today announced that it has reached a formal agreement with the State of Kansas that significantly incentivizes the company to maintain its presence in Wichita over the next 10 years.
Chairman and CEO Bill Boisture and Kansas Governor Mark Parkinson announced the agreement today alongside Wichita Mayor Carl Brewer and Sedgwick County Commissioner Karl Peterjohn at an event at the National Center for Aviation Training. The State’s incentive package requires Hawker Beechcraft to maintain its current product lines in Wichita and retain at least 4,000 jobs over the next 10 years.
“Today’s announcement marks a key point in the future of Hawker Beechcraft,” Boisture said.
“As the general aviation industry continues to recover from the economic recession, this agreement is a great victory for our state as it stabilizes Hawker Beechcraft’s long-term presence in Wichita and provides some security to thousands of employees in uncertain times,” said Parkinson.
The million incentive package from the State of Kansas is part of the IMPACT program available through the Kansas Department of Commerce. The package includes million over three years for tuition reimbursement and training as part of the State of Kansas Investments in Lifelong Learning (SKILL) funds of the program.
Hawker Beechcraft will also receive million in the first year, followed by million each year for the next four years, as part of the Major Project Investment (MPI) portion of IMPACT. MPI funds may be used for other expenses related to the project, such as the purchase or relocation of equipment, product development, labor recruitment, or building costs.
IMPACT incentive packages are financed through tax exempt.
“This is a significant moment for Wichita as we work to keep our great city the Air Capital of the World,” said Mayor Brewer. “I appreciate the hard work of Governor Parkinson and the partnership with Sedgwick County to reach this agreement that will protect Wichita jobs and keep Hawker Beechcraft an important piece of our aviation community for years to come.”