Subsidy Tracker Individual Entry

Company: 
Spirit AeroSystems
Parent Company: 
Spirit AeroSystems
Subsidy Source: 
state
Location: 
Kansas
City: 
Wichita
Project Description: 

aircraft manufacturing plant upgrade

Year: 
2005
Major Industry of Parent: 
aerospace and military contracting
Specific Industry of Parent: 
aerospace & military contracting
Subsidy Value: 
$80,000,000
Program Name: 
bond financing
Awarding Agency: 
Kansas Department of Commerce
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
1,500
Wage Data: 
$70000
Wage Data Type: 
annual pay with benefits
Capital Investment: 
$500,000,000
Source of Data: 

The value of the subsidy package was taken from: Steve Painter, "State Bonds will Give Spirit A Lift," Wichita Eagle, October 19, 2005.

Notes: 

The subsidy package came in a form of bonds issued by the state that Spirit was allowed to repay using income tax withheld from the paychecks of its workers. This subsidy was awarded after Spirit took over a facility that had been operated by Boeing and for which the state had offered $500 million in bond financing in 2003. For the Boeing deal, see: John L. Petterson, "Bill OK'd to allow Boeing bonds," Kansas City Star, May 22, 2003. The main Subsidy Tracker data includes a $100,000 Kansas Industrial Training entry for 2006 and a $4.5 million Kansas Economic Opportunity Initiatives Fund entry for 2009.

Source Notes: 
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