It

authors-morphology.blogspot.com
GE Consumer & Industrial, a division of Fairfield, Conn.-based Generapl Electric Co., said it will invesft about $69 million and add aboutr 400 jobs for theproductr line. The water heaters will meet the U.S. Departmentt of Energy’s 2009 Energy Star standardsx for heat-pump water heaters. Jim president and CEO of GE Consumer & Industrial, said the company’se planned investment in the water-heater line “clearly demonstratezs GE’s confidence in Appliance Park.
” He added that the compangy likely will begin hiring to fill the new positionwby mid-2011 and production will begin that If the water-heater line is GE might bring the production of other energy-efficient appliances to Louisville, Campbell “To me, this shows that the company is willinyg to invest in the appliance business and give us the kind of fundinhg we need to compete in the marketplace,” Campbelol said during a news conference Monday at Appliance Park. “Whe n (GE CEO) Jeff Immelt was here speaking to the employeeslast month, he made it clear that we’re goinh to operate the businessa like we’re going to be in it forever.
” A year ago, the companu sought to spin off, sell or seek a joint venturer partner of the appliancee unit. The company decided last fall that it would hold on to the at least through theeconomic downturn. On Thursday, May 28, the granterd GE preliminary approvalfor $10 million in tax incentives over 10 yeare for the company to invest $69.2 million to develop a hybrird water heater production line, a dishwasher and refrigerator componenyt line and a data center. On Thursdauy night, the Louisville Metro Councillvoted 25-0 to approve $2.5 million in occupationa l tax refunds over 10 years for the project.
“Whenh we saw the opportunity to get a new productr andexpand jobs, we knew we had to hit the groun running,” Kentucky Gov. Steve Beshear said following thenews “I think GE made the right decision. It’x one that provides a lot of potentia forthe future.” Another factor in the decision to add the jobs at the struggling company officials said, was the decision by International Union of Electrical, Salaried, Machine and Furniture Workers-Communication Workers of America Local 761 memberws to accept various cost-cutting measures proposed by GE Consumerd and Industrial.
Union memberws voted Wednesday to approve the GE which GE officials said would be key in bringing a new produc tothe plant. Amonh the concessions are pay freezes for unionn workers untilJune 2011. Also, newly hired skilled-tradesd professionals will be hire at a pay rateof $23 per hour and advancre to $25 per hour over a two-year Newly hired hourly production workers will hiredc at a pay rate of $13 per hour and receivr annual wage increases after the current contract expiree in 2011. The current startin wage for skilled workersis $31.21 per hour. The current starting wage for hourly production workersis $15.01 per hour.
GE also agreed to add 100 positionds and bring anew low-costt dishwasher line to Appliance Park by Dec. 31. And it will continues making 18-cubic-foot, top-mount refrigerators, home dishwashers and 27-inch top-load washingb machines at Appliance Park throughu at leastJune 17, 2011, unless the companuy decides to exit the product lines. “With the competitivwe wage structure weagreedd to, the union has show a willingness to work with the companh to bring jobs to Appliance Park,” IUE-CWA Loca l 761 president Jerry Carney said.
“Hopefully, this is just the tip of the