NEWTON, Kan. (KSNW) — The Newton City Commission has approved a resolution of intent to grant Avcon Industries a three-year tiered tax abatement.
Avcon is expanding into the former Mennonite Press building at Newton City/County Airport. The company has called the Airport home for 40 years and employs around 70 people.
Avcon specializes in aircraft modification, installation, and repair. The $1.23 million expansion will create ten new jobs in the first five years.
The exemption would be for property taxes on the increased value of the property by 75% in the first year, 50% in the second, and 25% in the third. City staff will also work with Avcon to draft a development agreement that the city commission will consider at a later date.