Moody's says Kansas layoffs threaten government tax revenues
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January 17, 2020
WICHITA, Kan. (AP) — Moody's Investors Service said Friday that layoffs at Spirit AeroSystems are "credit negative" for the city of Wichita, Sedgwick County and local communities because the workforce reduction threatens retail sales, lowering sales tax revenues that support government budgets.
Most local governments in the Wichita area would be able to weather a short-term economic slowdown stemming from the layoffs, the credit rating service said. However, it anticipated that workers will move out of the area if the lower staffing at Spirit and other suppliers continues for an extended time....
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