Electrolux approved for 15-year tax freeze

MEMPHIS, Tenn. (AP) -- Cooking appliance maker Electrolux Home Products Inc. has been approved for a 15-year tax freeze as part of a deal to build a $190 million manufacturing plant in Memphis.

The Memphis-Shelby County Industrial Development Board unanimously approved the tax break during a Wednesday meeting that will save the company about $38.7 million.

In December the company selected Memphis as the site of a new facility that will provide 1,240 new jobs as well as additional supplier jobs. Construction is expected to begin later this year.

The Memphis Daily News reported that Tennessee competed with Alabama, Mexico and North Carolina and committed $100 million in incentives to secure the facility.

Shelby County Mayor Mark Luttrell said at the meeting that Electrolux brings a brand name that will draw other industries to the region.

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  • by Victor Location: memphis on Jan 16, 2011 at 07:45 AM
    again the average tax payer pays for the rich not to pay something is wrong in this country.


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