Kentucky OKs GE for $40M incentives in Louisville

LOUISVILLE, Ky. (AP) — General Electric is about to sell its appliance division to Electrolux, but meanwhile it is going ahead with a plan to invest $277 million in its Appliance Park in Louisville.

WDRB-TV (http://bit.ly/1n1EgTq ) reports that a state board on Thursday approved $40 million in incentives to GE if it goes ahead with the investment and retains 5,263 jobs in Louisville.

GE Louisville-based spokeswoman Kim Freeman says the pending sale to Electrolux is still six to nine months away, and GE has to continue moving ahead with the momentum it has started.

A document from the Kentucky Economic Development Finance Authority says GE is considering investments in Appliance Park that would, among other things, add new advanced manufacturing and research capabilities and maintain employment.

Freeman says the state incentives could be transferred to Electrolux after the sale, subject to state approval.

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Information from: WDRB-TV, http://www.fox41.com

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