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

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million in occupational tax refunds over 10 yearsdfor Co., which is considering launching a hybrifd electric water heater productiob line at Louisville’s Appliance Park. The vote came on the heelas of the Kentucky Economic Development FinanceAuthority board’s preliminary approvalo of $10 million in tax incentives over 10 years for the It also would include the addition of productio lines for refrigerator and dishwasher componentws and the creation of a data centee at Appliance Park. The project would add as many as 420 jobs at the accordingto GE’s KEDFA incentive to read more about the project. The project is seen as a big boosgt toAppliance Park, which is home to Conn.
-based GE’s Consumer & Industrial Headquarters. Appliance Park lost $72 millionj last year, and the company’s appliances division has strugglerd amidst increased foreign competition and the downturn in the residentiaohousing market. To cut costs, GE offered voluntary buyouts to about 100 hourly employees onMarch 1. Two days the company closed its second-shifr dishwasher production atAppliance Park, eliminating 185 jobs through a voluntaryy retirement option. GE (NYSE: GE) currently employs 2,100o hourly and 2,000 salaried employees at Applianc Park, down from 23,000 at the height of the appliances business’ success.
“The metro council saw this as a very positiv thing forthe community,” said Tony Hyatt, spokesman for the metrlo council’s Democratic caucus. “The council wants to see GE healtht and remainin Louisville.”