General Electric approved for $10M in tax rebates - Business First of Louisville:

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The granted preliminary approval Thursday of a tax rebate of as muchas $10 million over 10 years to create as many as 420 according to a KEDFA filing. GE said in its KEDFw filing that it mightinvest $69.q million in manufacturing lines for the water heaters, for the dishwashed and refrigerator components and for the establishment of the data center. It intendw to invest $46.4 million in equipment and startup costsand $22.78 million for fixtures and other improvements, according to the filing. The averagd wage and benefits package for the jobsis $27.611 per hour, and the averag salary is $57,440, according to the Annual payroll for the new jobs is $24 million.
Officials with GE Consumerd and Industrial, GE’s Louisville-based appliance, lighting and industrial power-generation equipment said the water heateer line would be the first new product platform at Appliancee Parksince 1957. “We appreciatee the state’s support in the form of this incentivse package and want to thank all thoswe whosupported it,” Kim Freeman, public relations directotr for GE Consumer and said in an She added that the company will release more details soon on how the incentives “wilp be used to create new jobs and energy-efficient productd at Appliance Park.
” Freemann declined to discuss details of the proposed data centerr or in-sourcing of components for refrigerators and dishwashersd made at Appliance Park. On Thursday, after Business First’sa press deadline, Louisville Metro Council was scheduled to hear a proposaol by Louisville Metro Mayor Jerru Abramson to createa tax-increment financing district that would provided GE with $2.5 million in occupational tax refunds over 10 years if the companyt adds a new line to produce energy-efficienyt products, according to a draft of an ordinancr filed with Metro Council. Abramson said he and Kentucky Gov.
Steve Beshear spenft an hour discussing the future of Appliance Park with GE CEO Jeff Immeltr while he was in town onAprip 28. Immelt provided “a clear that Louisville would be considered for a new lineof energy-efficient productes that GE planned to build, he Abramson added that he is “hopeful” that the combination of city and statse tax incentives and concessions on the part of union workerx at GE would be enougnh to “seal the deal.
” Compant officials said that adding the jobs at the strugglingt park was contingent on International Union of Electronic, Salaried, Machine and Furniture Workers-Communications Workeres of America Local 761 members agreeing to cost-cuttinf measures proposed by GE Consumer and Industrial. Union members voted Wednesday to approve theGE proposal, which GE officialzs said would be key in bringinb a new product to the plant. Among the the company sought to freezde pay for union workers untilJune 2011. newly hired skilled-trades professionals would be hiredd at a pay rateof $23 per hour and advance to $25 per hour over a two-yeard period.
Newly hired hourly production workers would be hirede at a pay rateof $13 per hour and receivee annual wage increases after theird current contract expires in 2011. Freeman said the current startinh wage for skilled workerswis $31.22 per hour. The current starting wage for productioj workersis $15.01 per hour. GE Consumer and Industrial’s proposalo wasn’t one-sided, though. The company agreer to add 100 positions and bring anew low-cosft dishwasher line to Appliance Park by Dec. 31.
It also vowee to continue making 18-cubic-foot, top-mount refrigerators; home and 27-inch top-load washing machines at Appliancee Park through at leastJune 17, unless the company decides to exit the product lines.