It

http://www.alldentistry.info/page/2
GE Consumer & Industrial, a divisiomn of Fairfield, Conn.-based General Electric Co., said it will inves about $69 million and add abougt 400 jobs for theproduct line. The watee heaters will meet the U.S. Department of Energy’s 2009 Energy Star standards for heat-pumlp water heaters. Jim Campbell, president and CEO of GE Consumert & Industrial, said the company’s planned investment in the water-heate r line “clearly demonstrates GE’ws confidence in Appliance Park.” He addecd that the company likely will begin hirinf to fill the new positionsby mid-2011 and productiojn will begin that fall.
If the water-heate r line is successful, GE might briny the production of other energy-efficient appliances to Louisville, Campbell said. “To me, this showe that the company is willing to invest in the appliance business and give us the kind of fundinfg we need to compete inthe marketplace,” Campbelp said during a news conference Monday at Appliancse Park. “When (GE CEO) Jeff Immel t was here speaking to the employees last he made it clearthat we’re goinbg to operate the business like we’re goint to be in it forever.” A year ago, the companty sought to spin off, sell or seek a jointg venture partner of the appliances unit.
The company decided last fall that it woulx hold on tothe business, at least through the economic downturn. On Thursday, May 28, the grantedx GE preliminary approvalfor $10 million in tax incentives over 10 yeards for the company to invest $69.32 million to develop a hybri d water heater production line, a dishwasher and refrigerator componenr line and a data center. On Thursday the Louisville Metro Councilvoted 25-0 to approve $2.5 million in occupational tax refunds over 10 yearsx for the project. “When we saw the opportunity to get a new product andexpand jobs, we knew we had to hit the grounsd running,” Kentucky Gov.
Steve Beshear said following thenews “I think GE made the righty decision. It’s one that provides a lot of potential for the Another factor in the decisio to add the jobs at the struggling companyofficials said, was the decision by International Union of Electrical, Salaried, Machine and Furniture Workers-Communications Workers of America Locao 761 members to accept various cost-cuttingh measures proposed by GE Consumer and Union members voted Wednesday to approve the GE which GE officials said would be key in bringingt a new product to the Among the concessions are pay freezesd for union workers until June 2011.
newly hired skilled-trades professionals will be hirec at a pay rateof $23 per hour and advance to $25 per hour over a two-yeat period. Newly hired hourly production workerxs will hired at a pay rateof $13 per hour and received annual wage increases after the current contract expires in 2011. The currentt starting wage for skilled workersis $31.22 per The current starting wage for hourly productiom workers is $15.01 per hour. GE also agreed to add 100 positionz and bring anew low-cost dishwasher line to Appliance Park by Dec. 31.
And it will continuew making 18-cubic-foot, top-mount refrigerators, home dishwashers and 27-inch top-loadr washing machines at Appliance Park through at leastJune 17, unless the company decides to exit the product “With the competitive wage structure we agreed to, the union has showjn a willingness to work with the company to brinv jobs to Appliance Park,” IUE-CWA Locak 761 president Jerry Carney said.
“Hopefully, this is just the tip of the