Home » GE tentatively approved for $40 million in tax incentives

GE tentatively approved for $40 million in tax incentives

As part of Appliance Park in Louisville

LEXINGTON, Ky. (Sept. 25, 2014) — The Kentucky Economic Development Finance Authority on Thursday preliminarily approved $40 million in tax incentives to Louisville-based GE Appliances.

appliance-park-sign-2012-111The incentives, which will occur over a 10-year period, are for new investments in GE Appliance Park, which consists of five manufacturing buildings in Louisville devoted to laundry products, dishwashers, refrigerators and high-efficiency water heaters.

As part of the incentives 5,263 full-time Kentucky resident positions are to be retained.

The incentives are in addition to $277 million in investments at Appliance Park, with $100 million for building improvements, $149 million for equipment and $28 million for others, such as tools, shop work, engineering and purchased services.