Hawker Beechcraft Loses Incentives As Its Local Employment Dips
Hawker Beechcraft says its total number of Kansas employees has fallen below the level required to receive the full state and local government incentives.
The aircraft manufacturer had 3,372 employees as of December 31st. The company was granted $45 million in incentives back in 2010 in exchange for committing to keep 4,000 people employed in Kansas for 10 years.
Cash payments from incentives are reduced when the company's work force dips below 3,600 people. Still, Hawker Beechcraft officials say they're committed to being successful in Wichita. Right now, the company is trying to fill more than 65 open positions at its Wichita plant.
The Kansas Department of Commerce says the lower employment numbers mean company will receive a prorated $4.2 million payment this year, instead of the full $5 million.
Hawker Beechcraft sought court approval today (Jan. 31) to exit Chapter 11 bankruptcy at a hearing today and expects to emerge in the latter half of February. It has also secured a commitment for $600 million in financing as it leaves bankruptcy protection.