Details of investment, incentives - WDRB 41 Louisville News

Details of investment, incentives

GE is investing more than $80 million on the new programs, including the hybrid water heater program announced earlier, and the washer and dryer lines announced Monday.

Kentucky's Cabinet for Economic Development intends to provide $21.5 million, and Metro Louisville $2.5 million.  Those incentives still have to be approved.

In a statement Monday, Kentucky Governor Steve Beshear said, "Over the last several years GE management, and its union leaders, have made tremendous strides in revitalizing its manufacturing presence at Appliance Park. So, when the management reached out earlier this year for help to bring the new hybrid water heater to Appliance Park, I immediately started to work alongside Mayor Abramson to develop competitive incentives to encourage new growth and jobs."  He also said, "These are good-paying jobs in the growing ‘green technology' sector, and we are elated that GE is investing in these innovations right here in Kentucky."

"These new highly featured, energy-efficient laundry products will be a terrific addition to our portfolio and significantly enhance our leadership position in front-load laundry," said GE Consumer & Industrial President and CEO Jim Campbell. "We are making big investments in new products and in energy-efficient technologies that are creating American jobs."

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