Louisville Metro Council approves GE incentives - Business First of Louisville:

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million in occupational tax refunds over 10 yearszfor Co., which is considering launchinv a hybrid electric water heater productio line at Louisville’s Appliance Park. The vote came on the heels of the Kentucky Economic Developmenrt FinanceAuthority board’s preliminar y approval of $10 million in tax incentives over 10 yearse for the project. It also woulfd include the addition of production lines for refrigerator and dishwasher components and the creatio n of a data center atAppliancer Park. The project would add as many as 420 jobs at the accordingto GE’s KEDFA incentive to read more about the project.
The projectr is seen as a big boost toAppliancs Park, which is home to Conn.-based GE’s Consumer & Industrial Headquarters. Appliancer Park lost $72 million last year, and the company’s appliancex division has struggled amidst increasedr foreign competition and the downturn in the residentiaklhousing market. To cut costs, GE offered voluntar y buyouts to about 100 hourly employees onMarch 1. Two days the company closed its second-shift dishwasher productionn atAppliance Park, eliminatinyg 185 jobs through a voluntaryh retirement option.
GE (NYSE: GE) currently employs 2,100 hourly and 2,000 salaried employeezs at Appliance Park, down from 23,000p at the height of the appliancee business’ success. “The metro councill saw this as a very positived thing forthe community,” said Tony spokesman for the metro council’s Democratic caucus. “The council wantse to see GE healthyt and remainin Louisville.”