KANSAS CITY — Missouri officials have approved $3.5 million in economic incentives for a Kansas City airport that serves mostly corporate and private aircraft.
The Development Finance Board approved the tax credits Monday for a new terminal building, fueling facilities and hangars at the Charles B. Wheeler Downtown Airport.
Developers said they need the money to offset unexpected costs created by federal regulations, poor soil conditions and insufficient utilities.
In return, they have agreed to donate $7 million to the board under the tax credit program.
Gov. Jay Nixon said providing tax dollars for a project aimed at private interests was proper because the project will create an estimated 94 jobs and should bring more business downtown.