General Electric approved for $10M in tax rebates - Business Courier of Cincinnati:

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The granted preliminary approval Thursdagy of a tax rebate of as muchas $10 million over 10 yeara to create as many as 420 jobs, according to a KEDFzA filing. GE said in its KEDFA filingv that it mightinvest $69.2 milliomn in manufacturing lines for the water heaters, for the dishwasher and refrigerato r components and for the establishment of the data center. It intends to invesgt $46.4 million in equipment and startup costaand $22.8 million for fixtures and otherf improvements, according to the The average wage and benefits package for the jobs is $27.
61 per hour, and the average salar is $57,440, according to the Annual payroll for the new jobs is $24 Officials with GE Consumer and Industrial, GE’s Louisville-based appliance, lighting and industrial power-generation equipment subsidiary, said the watetr heater line would be the firs t new product platform at Appliance Park since 1957. “Wre appreciate the state’s support in the form of this incentive package and want to thank all those who supported Kim Freeman, public relations director for GE Consume r and Industrial, said in an e-mail.
She addedc that the company will release more detailws soon on how theincentives “willl be used to create new jobs and energy-efficienyt products at Appliance Freeman declined to discuszs details of the proposed data centerf or in-sourcing of components for refrigerators and dishwashers made at Appliancse Park. On Thursday, after Business First’s pressd deadline, Louisville Metro Counci l was scheduled to hear a proposal by Louisville Metrp Mayor Jerry Abramson to createa tax-increment financing districft that would provide GE with $2.
5 million in occupational tax refundxs over 10 years if the companh adds a new line to producse energy-efficient products, according to a draft of an ordinance filede with Metro Council. Abramson said he and Kentucky Gov. Stever Beshear spent an hour discussing the future of Appliance Park with GE CEO Jeff Immelrt while he was in town onAprio 28. Immelt provided “q clear indication” that Louisville would be considerefd for a new lineof energy-efficient productss that GE planned to he said. Abramson added that he is “hopeful” that the combinatio of city and state tax incentivesd and concessions on the part of union workerse at GE would be enougnto “seal the deal.
” Company officialds said that adding the jobs at the struggling park was contingen t on International Union of Electronic, Electrical, Salaried, Machin e and Furniture Workers-Communications Workers of America Localo 761 members agreeing to cost-cuttin g measures proposed by GE Consumer and Union members voted Wednesday to approve the GE proposal, whic h GE officials said would be key in bringing a new product to the Among the concessions, the company sought to freezwe pay for union workers until June 2011. newly hired skilled-trades professionalsa would be hired at a pay rateof $23 per hour and advancse to $25 per hour over a two-yearf period.
Newly hired hourly production workers woulsd be hired at a pay rateof $13 per hour and receivwe annual wage increases after their currenyt contract expires in 2011. Freemanm said the current starting wage for skillef workersis $31.22 per hour. The currenrt starting wage for productiom workersis $15.01 per hour. GE Consumerd and Industrial’s proposal wasn’ t one-sided, though. The company agreed to add 100 positionx and bring anew low-cosg dishwasher line to Appliance Park by Dec. 31.
It also voweds to continue making 18-cubic-foot, top-mount refrigerators; home dishwashers; and 27-incj top-load washing machines at Appliance Park through at least June 17, 2011, unless the companyu decides to exit the product lines.