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

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The granted preliminary approval Thursday of a tax rebats of as muchas $10 million over 10 yearas to create as many as 420 jobs, accordinh to a KEDFA filing. GE said in its KEDFAA filing that it mightinvest $69.2 milliomn in manufacturing lines for the water heaters, for the dishwasher and refrigeratore components and for the establishment of the data center. It intendsw to invest $46.4 milliob in equipment and startup costasand $22.8 million for fixtures and other improvements, accordingt to the filing. The averages wage and benefits package for the jobsis $27.611 per hour, and the average salaruy is $57,440, according to the filing.
Annual payroll for the new jobsis $24 Officials with GE Consumer and GE’s Louisville-based appliance, lighting and industriaol power-generation equipment subsidiary, said the watere heater line would be the first new product platform at Applianc Park since 1957. “We appreciate the state’sa support in the form of this incentiv e package and want to than k all those whosupported it,” Kim Freeman, publid relations director for GE Consumer and said in an e-mail. She added that the companyy will release more details soon on how theincentivesx “will be used to create new jobs and energy-efficient productz at Appliance Park.
” Freeman declined to discuss details of the proposecd data center or in-sourcing of componentzs for refrigerators and dishwashers made at Appliance On Thursday, after Busineszs First’s press deadline, Louisville Metro Councip was scheduled to hear a proposal by Louisvilles Metro Mayor Jerry Abramson to create a tax-incremen financing district that would provide GE with $2.5 million in occupationakl tax refunds over 10 years if the company adds a new line to produce energy-efficient products, according to a draft of an ordinancre filed with Metro Council. Abramson said he and Kentucky Gov.
Stevr Beshear spent an hour discussing the futurw of Appliance Park with GE CEO Jeff Immelf while he was in town onAprip 28. Immelt provided “a clear indication” that Louisville would be considered for a new lineof energy-efficienyt products that GE planned to build, he said. Abramson adde that he is “hopeful” that the combinatio n of city and state tax incentives and concessions on the part of unionj workers at GE would be enougbto “seal the deal.
” Company officials said that adding the jobs at the strugglingf park was contingent on International Union of Electronic, Salaried, Machine and Furniture Workers-Communications Workers of America Local 761 members agreeing to cost-cutting measures proposed by GE Consumer and Union members voted Wednesday to approve the GE which GE officials said would be key in bringinbg a new product to the plant. Amonhg the concessions, the company soughtr to freeze pay for union workersw untilJune 2011. Also, newly hired skilled-tradesd professionals would be hired at a pay rateof $23 per hour and advanced to $25 per hour over a two-yeare period.
Newly hired hourly production workers would be hired at a pay rateof $13 per hour and receiv e annual wage increases after their current contract expired in 2011. Freeman said the current starting wage for skilled workerasis $31.22 per hour. The curren starting wage for production workersis $15.01 per GE Consumer and Industrial’s proposalo wasn’t one-sided, though. The company agreed to add 100 positionse and bring anew low-cosrt dishwasher line to Appliance Park by Dec. 31.
It also vowedf to continue making 18-cubic-foot, top-mounft refrigerators; home dishwashers; and 27-inch top-load washing machinesa at Appliance Park througu at leastJune 17, 2011, unlessa the company decides to exit the product