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Thu, Oct 20, 2005

Spirit AeroSystems Gets A Bond

Money Helps Kansas Company Start Work On 787

Kansas Tuesday stepped up for one of its own -- lawmakers unanimously approving $80 million in bond financing for Spirit AeroSystems of Wichita so it can fulfill its part in building Boeing's 787 Dreamliner.

The money goes toward upgrades for the Wichita company's plant, once owned by Boeing. Governor Kathleen Sebelius and leaders in the state legislature agreed without dissent that the plant upgrades, combined with the 787 contract, would help secure 1,500 jobs in Wichita -- a town that's been hard-hit by aviation's economic downturn.

"These jobs would not be there today or tomorrow without this new bond program," Mike Germann, Spirit's VP for communications, told the Wichita Eagle.

Sebelius went a step further. "These are good, well-paying jobs. I think we want to keep them here," she told the paper.

Spirit will pay back the interest on the bonds using state withholding taxes on the jobs created by the measure.

FMI: www.ksgovernor.org

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