Aug 17, 2011 3:49 PM
Governor Steve Beshear announced Wednesday that GE Lighting will invest approximately $10 million at its Lexington Lamp Plant to produce a new line of energy-efficient lighting products. The expansion, which is in response to customer demand for energy-efficient lighting, will initially create 38 new jobs in the Commonwealth.
"The addition of a new energy-efficient product line at GE's Lexington Lamp Plant is fantastic news for the Fayette County community and the entire state," Beshear said. "This expansion not only diversifies the plant's product line, but will also create 38 new, quality jobs for Kentuckians. Our focus on partnering with Kentucky's existing industries is paying off, and this job-creation project is proof of that success."
Installation of equipment to make the energy-efficient spotlights and floodlights, called PAR 38 silver halogen lamps, is scheduled to begin soon and will be completed in January 2012. Full production is expected to be implemented by April 2012. The GE Lexington Lamp Plant currently employs 124 people and has been operational since 1947.
"This investment and expansion is a vote of confidence from GE Lighting in our employees' ability to perform competitively, and further diversifies products made at our plant," said Joel Fay, plant manager for the Lexington plant. "This is positive for the future of our plant and employees, as customers continue to demand energy-efficient lighting for general illumination applications. We are also grateful to the Commonwealth of Kentucky for its role in working with companies to bring jobs to the area."
The Kentucky Economic Development Finance Authority preliminarily approved GE Lighting for tax incentives up to $600,000 through the Kentucky Business Investment program. The performance-based incentive allows the company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
"This is an exciting announcement for central Kentucky," said Sen. Kathy Stein, of Lexington. "This investment by GE Lighting is an investment in our community. These 38 new jobs will provide a boost to our local economy and new opportunities for our workforce. GE Lighting enhances our position as the prime location for innovative businesses to plant themselves, grow roots and be cultivated into the fertile soil we are developing to be the regional leader in excellence in our new economy. Gov. Beshear shows his continued leadership in job creation to seek out and support this excellent industry. This is the kind of leadership we need and have come to expect from Gov. Beshear. Thank you, Governor."
"This is wonderful news for Fayette County, and it's another step in the right direction as our community continues to attract jobs that are producing the next generation of energy-efficient products," said Rep. Kelly Flood, of Lexington. "I want to thank GE Lighting for its decision to expand, and I want to thank local and state officials for working together to help make this happen."
"Green jobs like these are jobs with a future," said Lexington Mayor Jim Gray. "GE's investment helps maintain and offers the potential for growth of our manufacturing sector, which is an important and growing part of our economy."
"This is a great day for Lexington," said Bob Quick, president and CEO of Commerce Lexington. "GE's decision to develop energy-efficient lamps in Lexington establishes the city in the next generation of lighting technology. We certainly appreciate that GE chose the city of Lexington for this very important investment. The additional investment by GE speaks to Lexington's strengths for clean energy related companies as recommended in our recent strategic planning process."
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