The city of Parsons intends to issue up to $6.5 million in industrial revenue bonds to support the expansion of Ducommun Inc.’s local plant.
The Parsons City Commission during a Thursday afternoon work session approved on a unanimous vote a resolution indicating the intent to issue the bonds to buy, acquire, construct and equip a 62,000-square-foot addition to the existing aircraft parts manufacturing facility at 3333 Main.
The decision came after a 30-minute executive session with City Attorney Ross Albertini, City Manager Debbie Lamb, Economic Development Director Jim Zaleski and Bob Wood of Coldwell-Banker Wood-Dulohery Real Estate and Insurance to discuss confidential financial information of a corporation and possible land acquisition.
Zaleski in announcing his recommendation for approval of the resolution also said the city plans to give $4 million in incentives to Ducommun through a tax abatement.
(Read more: Parsons Sun – news,news/)