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

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million in occupational tax refunds over 10 yearwsfor Co., which is consideringv launching a hybrid electricd water heater production line at Louisville’x Appliance Park. The vote came on the heels of the Kentuckg Economic Development FinanceAuthority board’s preliminary approvakl of $10 million in tax incentives over 10 yearss for the project. It also would include the additioh of production lines for refrigerator and dishwasher componentse and the creation of a data center at Appliance The project would add as many as 420 jobs at the accordingto GE’s KEDFA incentive to read more about the The project is seen as a big boost to Appliance Park, which is home to Fairfield, Conn.
-basedc GE’s Consumer & Industriao Headquarters. Appliance Park lost $72 milliobn last year, and the company’es appliances division has struggled amidst increased foreign competition and the downturnm in the residentialhousiny market. To cut GE offered voluntary buyouts to abouyt 100 hourly employees onMarchy 1. Two days later, the companyt closed its second-shift dishwasher production atAppliance Park, eliminating 185 jobs through a voluntary retirement GE (NYSE: GE) currently employs 2,100 hourlyg and 2,000 salaried employees at Appliance Park, down from 23,00p at the height of the appliancre business’ success.
“The metro council saw this as a very positiver thing forthe community,” said Tony spokesman for the metro council’sz Democratic caucus. “The council wants to see GE healthy and remaihnin Louisville.”