FORT SMITH — Fort Smith has approved the issuance of up to $150 million in industrial development revenue bonds for an expansion at Gerber Products Co.'s plant in the city.
Deputy City Administrator Jeff Dingman said the expansion will lead to 90 new jobs and increased production at the plant, which makes cereal. The Southwest Times Record reported that Gerber, not the city, will be responsible for making payments on the bonds.
Dingman said industrial revenue bonds will lead to lower property taxes for the project.
The Fort Smith Board of Directors approved the bond ordinance on a 5-0 vote Tuesday.