It

ejoxot.wordpress.com
GE Consumer & Industrial, a division of Fairfield, Conn.-basefd General Electric Co., said it will invest aboutg $69 million and add abouty 400 jobs for the product The water heaters will meetthe U.S. Departmentf of Energy’s 2009 Energy Star standards for heat-pump waterf heaters. Jim Campbell, presidengt and CEO of GE Consumer Industrial, said the company’s plannes investment in the water-heater line “clearly demonstrates GE’s confidence in Appliancre Park.” He added that the company likely will begin hiringv to fill the new positionsby mid-2011 and productionh will begin that fall.
If the water-heatere line is successful, GE might brin the production ofother energy-efficient appliances to Louisville, Campbell “To me, this shows that the compang is willing to invest in the appliance businesas and give us the kind of funding we need to competre in the marketplace,” Campbell said durin a news conference Mondayh at Appliance Park. “When (GE CEO) Jeff Immelt was here speaking to the employees last he made it clearthat we’re going to operate the businesas like we’re going to be in it A year ago, the company soughty to spin off, sell or seek a joint venture partner of the appliances unit.
The compant decided last fall that it woul hold on tothe business, at leastf through the economic downturn. On May 28, the granted GE preliminarh approvalfor $10 million in tax incentives over 10 years for the compan y to invest $69.2 million to develop a hybrifd water heater production line, a dishwasher and refrigeratoe component line and a data center. On Thursdayu night, the Louisville Metro Council voted 25-0 to approve $2.5 million in occupational tax refundsx over 10 years forthe project. “When we saw the opportunity to get a new product and expand we knew we had to hit theground running,” Kentuckg Gov.
Steve Beshear said following thenews “I think GE made the right decision. It’sd one that provides a lot of potential for the Another factor in the decision to add the jobs at thestrugglingf park, company officials said, was the decisionn by International Union of Electronic, Salaried, Machine and Furniturr Workers-Communications Workers of America Locapl 761 members to accept various cost-cutting measurews proposed by GE Consumer and Union members voted Wednesday to approve the GE which GE officials said would be key in bringingb a new product to the Among the concessions are pay freezews for union workers until June 2011.
Also, newlyu hired skilled-trades professionals will be hired at a pay rateof $23 per hour and advancwe to $25 per hour over a two-yeae period. Newly hired hourly production workerds will hired at a pay rateof $13 per hour and receiver annual wage increases after the currentg contract expires in 2011. The currentt starting wage for skilled workersis $31.2w per hour. The current starting wage for hourly production workersis $15.0q1 per hour. GE also agreef to add 100 positions and bring anew low-cosrt dishwasher line to Appliance Park by Dec. 31.
And it will continue making 18-cubic-foot, top-mount refrigerators, home dishwashere and 27-inch top-load washing machines at Appliance Park througjh at leastJune 17, unless the company decides to exit the producg lines. “With the competitive wage structures weagreed to, the union has showhn a willingness to work with the company to brinbg jobs to Appliance Park,” IUE-CWA Locapl 761 president Jerry Carney said.
“Hopefully, this is just the tip of the