General Electric Co. is expanding its manufacturing operations in Clearwater. The expansion, on the site of Instrument Transformers Inc., a subsidiary of General Electric, is expected to cost $49 million and bring 263 new jobs.
Instrument Transformers Inc. has been in Clearwater for 38 years and currently has 436 employees.
GE is relocating its electric-capacitor manufacturing facility to the site from Fort Edward, N.Y., after it was unable to reach an agreement with workers represented by the plant’s union, Local 332 of the United Electrical, Radio and Machine Workers of America.
GE says it considered other sites in the United States and abroad before choosing the 1907 Calumet St., Clearwater in the Hercules Avenue industrial area.
The city’s economic development ad valorem tax exemptions reportedly played a large part in GE’s decision to bring the additional business to the area.
The Clearwater City Council has already authorized the Economic Development and Housing Department to negotiate incentives with GE. Those incentives will be brought back to the council for final approval at the Dec. 5 city council meeting.
“Due to the economy during the last five years, the city created an economic development strategic plan and invested time and resources to creating new opportunities. Part of the plan was to ask the voters to approve a tax exemption program which would create jobs,” Clearwater Mayor George Cretekos says in a press release. “This is a big win for the city of Clearwater, and it shows that we can compete for high-quality jobs.”
~ Business Observer (11/25/13)
http://www.businessobserverfl.com/section/detail/ge-moving-263-jobs-to-clearwater/
