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June 1, 2009
General Electric Co. will add 400 jobs at its appliance division in Louisville, Ky., to make new energy-efficient electric water heaters by 2011.
The company received roughly $17 million in incentives from state and local governments and roughly $3 million from federal stimulus funds for the $69 million project. In the past, GE has licensed its brand to be used on water heaters produced by other manufacturers. But the company sees more potential in making energy-efficient products for the home.
"The second-largest user of electricity in your house is the hot-water heater, behind the heating and air-conditioning unit," said James Campbell, president and chief executive of GE's Consumer and Industrial businesses. GE said its new water heaters would use about half the energy of conventional models, by combining new heat-pump technology with traditional electric heating systems.
GE says appliance sales, industry-wide, fell 25% in 2008, compared with 2006, in part because of the housing bust.
As part of the investment, members of the IUE-CWA union in Louisville, voted May 27 to freeze wages at current levels until the union's contract ends in 2011. "The union leadership realized we were at the brink of a major, life-altering decision for our employees and the business." said Local IUE-CWA President Jerry Carney, in a statement.
GE said last year it wanted to sell or spin off the appliances group, but Mr. Campbell said the company is continuing to develop and improve its offerings. "Our direction has been pretty clear. It is to operate the business as if it's going to be here. That's what we've been doing. We've continued to invest," Mr. Campbell said. "Despite the tough economy, we've held our expenses at constant and are continuing to launch new products every quarter."
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