Newton Council OKs Financing For $6.5M Project
The City Council in Newton has approved financing for a company that plans to build a chemical manufacturing plant at the city's airport.
The estimate for Wichita-based ABI Group's project is $6.5 million, which would fund a 20,000-squre-foot manufacturing facility, a 5,000-square-foot hangar and a taxiway.
The Wichita Eagle (http://bit.ly/1qlnjkD  ) reports ABI Chemicals plans to use the space to make aerospace coatings being developed in conjunction with Wichita State University's National Institute for Aviation Research.
Newton plans to lease the facilities to ABI Chemicals for 20 years at rates that will cover debt service payments on a loan from Citizens State Bank.
Information from: The Wichita (Kan.) Eagle, http://www.kansas.com