GE Lighting getting $20 million back
Bucyrus Telegraph Forum – BUCYRUS — Nearly $20 million in federal stimulus money is headed to the Bucyrus General Electric Lighting plant, the Obama administration announced Friday.
Meghan Dubyak, a spokeswoman for U.S. Sen. Sherrod Brown, said the $19.8 million tax credit would function more as a "cash-back grant program" to be received by GE Lighting once a new production line at the plant becomes operational. It's part of a state and federal effort to save 185 jobs at the plant and create 100 more.
The credits are only a chunk of nearly $125 million awarded to Ohio from the Recovery Act's Advanced Energy Manufacturing Tax Credit program.
President Barack Obama said the $2.3 billion in tax credits would be distributed nationwide to spur creation of clean energy jobs.
