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 says the expansion will lead to 90 new jobs and increased production at the plant, which makes cereal. Gerber will be responsible for making payments on the bonds - not the city.
Dingman says 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.