Boeing Wichita wants to make up to $450 million in improvements to their southeast Wichita campus.
They have requested industrial revenue bonds for the project. The Wichita City Council gave their approval Tuesday. However, the Boeing campus isn't annexed by the city, so it is exempt from City property taxes. They do pay taxes to the state of Kansas, Sedgwick County and the Derby school district, to the tune of $11.8 million in 2025.
If the Sedgwick County Commission approves the item Wednesday, Boeing will achieve a property tax abatement. It will not alter their current tax liability or shift it to other taxpayers. No sales tax exemption was requested.
As a reminder, the city and county are not lending any money to Boeing and taxpayers bear no risk. Boeing will be required to achieve its own financing and pay all associated costs.
The city of Wichita received positive news, in the form of a great First Quarter financial report.
The city's general fund remains on track through March 31. While the city saw expected growth in wages for Police and Fire personnel, there was a decline for Public works, as the city wrestles with staffing challenges in that department.
The sales tax is overperforming. However, Mark Manning with the finance department reported that Interest earnings declined $1 million year over year, as expected.
Revenues for the city's Golf fund were up 23%, despite rising expenditures. The parking fund's revenues and expenditures also increased.
