Mayor: GE Spinoff Could Take Up To One Year

by Rick Howlett on July 30, 2008

Louisville Mayor Jerry Abramson says local and state officials continue working to keep the new version of General Electric’s Consumer and Industrial operation at the city’s Appliance Park.

GE announced this year that it would likely spin off the Louisville-based operation into a separate, stockholder-owned company. Abramson says government officials are doing all they can to insure that the company–with its thousands of jobs—will continue to call Louisville home.

“We are working with their personnel as they develop this stand-alone entity.   There are a lot of other issues that come into play that we can help on than when they were a part of General Electric Worldwide.    So there will be incentives, there will be training assistance as they bring on new lines or new investments,” Abramson said.

The mayor predicts it will take up to a year for GE to clear all the necessary regulatory hurdles to complete the spinoff.

He spoke Wednesday on WFPL’s “State of Affairs” program.

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