General Electric could get $15 million a year from Kentucky incentive program

Posted on February 26, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

LOUISVILLE, Ky. (WDRB) — General Electric Co. could get $15 million a year from Kentucky taxpayers under a bill pushed by State Rep. Larry Clark of Louisville, according to a new analysis by the Legislative Research Commission.

GE — which makes dishwashers, laundry machines and refrigerators at its 60-year-old Appliance Park factory in Louisville — has already been promised $20.5 million from the state coffers over 10 years, or about $2 million a year.

But Clark’s bill would sweeten the taxpayer assistance to GE by offering the same mega-deal incentives the state currently reserves for automakers such as Ford Motor Co. and Toyota and for their suppliers.