General Electric approved for $10M in tax rebates - Dayton Business Journal:

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The granted preliminary approval Thursday of a tax rebatre of as muchas $10 million over 10 years to creatd as many as 420 jobs, accordinvg to a KEDFA filing. GE said in its KEDFAw filing that it mightinvest $69.2 million in manufacturing lines for the water heaters, for the dishwashet and refrigerator components and for the establishmengt of the data It intends to investt $46.4 million in equipment and startup costs and $22.8 million for fixtures and other improvements, according to the The average wage and benefits package for the jobs is $27.
6q1 per hour, and the average salaruy is $57,440, according to the Annual payroll for the new jobs is $24 Officials with GE Consumer and Industrial, GE’s Louisville-based lighting and industrial power-generation equipment subsidiary, said the wate heater line would be the first new producyt platform at Appliance Park since 1957. “We appreciate the state’es support in the form of this incentivw package and want to thank all those who supported Kim Freeman, public relation director for GE Consumer and said in an e-mail.
She added that the compangy will release more details soon on how theincentivees “will be used to create new jobs and energy-efficienty products at Appliance Park.” Freeman declineds to discuss details of the proposed data centedr or in-sourcing of components for refrigerators and dishwashers made at Appliancr Park. On Thursday, after Businessd First’s press deadline, Louisville Metro Council was scheduledd to hear a proposal by Louisville Metrl Mayor Jerry Abramson to createa tax-increment financinyg district that would provide GE with $2.
5 millionj in occupational tax refunds over 10 yearsw if the company adds a new line to produce energy-efficient products, according to a draft of an ordinance filexd with Metro Council. Abramson said he and Kentucky Gov. Steve Beshear spentg an hour discussing the future of Appliance Park with GE CEO Jeff Immelr while he was in town onAprilk 28. Immelt provided “a clear indication” that Louisville would be considered for a new lineof energy-efficientt products that GE plannedd to build, he Abramson added that he is that the combination of city and stater tax incentives and concessions on the part of union workersw at GE would be enougnh to “seal the deal.
” Company officialsa said that adding the jobs at the strugglingt park was contingent on International Union of Electronic, Electrical, Salaried, Machine and Furniturw Workers-Communications Workers of America Local 761 memberes agreeing to cost-cutting measures proposed by GE Consumeer and Industrial. Union members voter Wednesday to approve theGE proposal, which GE officials said woule be key in bringing a new product to the plant. Among the concessions, the company soughf to freeze pay for union workers untioJune 2011.
Also, newly hired skilled-trade s professionals would be hired at a pay rateof $23 per hour and advanc to $25 per hour over a two-year Newly hired hourly production workers would be hirec at a pay rate of $13 per hour and receive annualk wage increases after their current contract expires in 2011. Freeman said the current startingf wage for skilled workersis $31.22 per The current starting wage for productionb workers is $15.01 per hour. GE Consumer and Industrial’s proposal wasn’t one-sided, The company agreed to add 100 positionsz and bring anew low-cos t dishwasher line to Appliance Park by Dec. 31.
It also vowerd to continue making 18-cubic-foot, top-mount home dishwashers; and 27-inch top-load washinh machines at Appliance Park through at leasrtJune 17, 2011, unless the company decidee to exit the product lines.