Louisville Ready To Offer Incentives To GE Spinoff

by Gabe Bullard on July 10, 2008

Mayor Abramson On GEThe city of Louisville is prepared to offer General Electric’s potential spinoff company an incentive package to stay in the city.

GE announced Thursday that it may spin off its consumer and industrial systems division, which includes Louisville’s Appliance Park. GE has also been considering an outright sale of the division.

Mayor Jerry Abramson says the spinoff is likely, but not guaranteed.

“They gave me a very clear message that the focus of their time and attention over the next several months will be on a spinoff approach, and they really didn’t talk about other options,” says Abramson. “Although, everything’s on the table until the ultimate, final, final decision is made.”

If spun-off, the new publicly-owned company would be a Fortune 250 enterprise. Abramson says any financial incentives offered to the new company would be in line with those given to other local companies such as Humana and Yum! Brands.

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