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New Hanover Commissioners approve incentives for GE Aviation

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By Ashley Withers
Ashley.Withers@StarNewsOnline.com

WILMINGTON, NC (StarNewsOnline.com) -- The New Hanover County Board of Commissioners unanimously approved a proposal to give General Electric Aviation more than $800,000 in incentives Monday night.

The county will give GE Aviation $175,000 per year for five years, in exchange for the plant putting money back into the community. This plan requires GE to invest at least $63 million in real and personal property at the New Hanover County plant and add at least 35 new jobs at the same facility.

The incentive money will come from the county's general fund and be included in the upcoming budget.

Click here to read more at StarNewsOnline.com

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is this a division of GE

is this a division of GE that has not paid federal taxes in years, and the same GE that has been exempted from Obamacare?

Don't believe in this

We have people on fix incomes that are having issues paying their taxes and we give GE a Tax Break.Why? "GE's net income rose 49 percent in the third quarter to $3.49 billion, or 33 cents per share. On an adjusted basis, GE earned 36 cents per share, in line analysts' expectations and up 13 percent from a year earlier."

3.49 billion profit and they need a tax break.

Come on people

This is no less than amazing to me!

To see you people beat down a company that has been one of the largest contributors to the local economy for the longest time is pretty incredible.

It is full testament to your shallow thought process, your jealousy and likely because you just didn't have what it takes to get a job with them. So cut them down some more, read them the riot act and make them the devil in disguise. You complain about businesses going to other venues and not coming here, you complain about the businesses that want to come here aren't good enough or will ruin your environment. Now you complain because a local, longtime established employer is experiencing growth and will hire more employees.

So what do you want? Would you like for the corporations to set up shop in SC and send their millions to NHC just because they like us?

You guys would tar and feather an Angel factory here if one existed!

Giveaway $175,000/Get it Right Back + 5 more

Now you folks know how GE operates. What you do is, Rob Peter to pay Paul. Would Thomas Edison turn over in his grave? Question is, will the local taxpayers roll over in theirs?
The land that Nuclear/Aviation sits upon is "Contaminated", nothing more & nothing less.
If GE wants to back out of this commitment at "any time" they will, and New Hanover County hasn't the funds, nor lawyers, to keep it out of the courts for years and years believe me. They have met the BIG DOGS NOW! Also, our US Government will give them a tax break for relocating their industry as well. A Win Win scenario.
As I said, what's New Hanover going to do with land that is contaminated from low level radiation run off, or is it Pay Off? NOTHING, and still NOTHING come Christmas except hand over another check for $175,000!
Let's not forget their CEO Jeff Immelt, who avoided paying US taxes in 2010, & do the Commissioners really think GE will and cannot get out of this one if they so desire? They may just find out.
Those 35 new jobs just might be Management Trainees (MMP's from elsewhere) that do their 2 year stretch so to move up in the company, or move on to other companies. A manufacturing risk GE takes, but remember, new hires receive "No 3% Pension Retirement Withholdings". What should they do??

Think again, and read this:
http://www.nytimes.com/2011/03/25/business/economy/25tax.html?pagewanted...

It means, you buy the

It means, you buy the property I have for sale and we'll give you this money that you don't need. GE could write a check for the whole county if it wanted to. It does not need our money.

Now that Berger is out of the way they can get back to the business of spending our money to help line their own pockets and those of their buddies.

Math????

Vog,
The commissioners must have been in the same math classes as the city council.

Expensive

Incentive. Thats $22,857 per job created.
The kicker is the investment of money by GE into "real and personal property" at the plant site?
Does anyone here have a clue or is this just political 'double speak'?

Vog

The personal property

is a business jet which will be on standy should any commissioners need to make a quick getaway.

Seriously, I believe they have to expand due to the 2 new contracts which were announced within the past 60 days.

Don't Count On It Tom

GEAE has opened up 2 new shops, one in Alabama and one in Mississippi. These new shops do not operate like GEAE Wilmington. The Wilmington shop is non-union but follows the union contract set in Evendale, OH. These new shops do not. Other than weasel out of paying taxes, the company would love to chop heads and/or cut pay in Wilmington. Nuclear Wilmington has already been successful at this. GEAE Wilmington currently acts as a technology model (in some cases)whereas all the bugs are worked out on a product, then offshored. Remember the last big promise by Nuclear and the big taxpayer money give away? They hired a few engineers and program managers from out of town and that's it. No blue collar work. The blue collar crowd needs work to get them off of the dole, not someone in India or Turkey.

Ditto Insider!

Remember the 3 Chinese Aviation plants built several years ago, and 2 were shut down? Forging issues out of the Ying Yang (no pun intended).
Thank God for final inspection!
Yes, the Temp Worker Plan that Nuclear adapted will/is spreading plant wide, as Nuclear holds the reins. As for future experienced help and knowledge, there is your "Bus Stops/& Show Stoppers".
Oh, the Buzzword era, you gotta love it.

smoke and mirrors

It seems that this will be just another fish that got away. You can be sure the company will locate wherever they can get the most incentives. $800k is very minor. It seems like it would be a horrible investment here, when the "mis"management here can't make the orders they have on the books now.

Minor?

That, $800,000.00 came out of MY (tax) pocket and I don't consider it, at all, minor.

Wilmington Observer

really?

It All came out of YOUR pocket...already? Wow...I'm impressed...maybe you should try a wallet. 800K/~30K taxpayers=?? (over five years). I would be surprised if it happens.