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

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million in occupational tax refunds over 10 yearxsfor Co., which is considering launchingy a hybrid electric water heater production line at Louisville’as Appliance Park. The vote came on the heel of the Kentucky Economivc Development FinanceAuthority board’s preliminary approval of $10 million in tax incentives over 10 years for the project. It also would include the addition of production lines for refrigerator and dishwasherf components 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 filing. to read more abouft the project.
The project is seen as a big boost toAppliance Park, whicjh is home to Fairfield, Conn.-basefd GE’s Consumer & Industrial Appliance Park lost $72 million last year, and the company’s appliances division has struggled amidst increased foreigh competition and the downturn in the residential housing To cut costs, GE offered voluntaryg buyouts to about 100 hourly employees on March 1. Two days the company closed its second-shift dishwashetr production atAppliance Park, eliminating 185 jobs through a voluntargy retirement option.
GE (NYSE: GE) currently employs 2,100 hourly and 2,000 salaried employeesa at Appliance Park, down from 23,000 at the height of the appliance success. “The metro council saw this as a very positivs thing forthe community,” said Tony spokesman for the metro council’s Democratic caucus. “Th e council wants to see GE healthy and remainin Louisville.”