New GE Aviation plant to bring 200 high-paying jobs to Indiana
The governor's office says more jobs are coming to Indiana.
The governor was in Tippecanoe County Wednesday morning to announce a new $92 million GE Aviation manufacturing plant in Lafayette to build jet engines. The company plans to hire 200 full-time workers and the jobs are expected to pay about $36 an hour, or $75,000 a year.
Tuesday morning, the Indiana Economic Development Corporation approved almost $5 million in tax incentives and training grants to help attract those jobs here to Indiana.
Just a few minutes before that, the governor did something he thinks will attract even more jobs to the Hoosier state - he signed a new law that will reduce Indiana's corporate income tax over the next several years. The new law also gives local governments options for cutting other businesses taxes.
The governor says the new law will help set Indiana apart when competing for jobs.
"Taking Indiana from the 25th corporate tax in America to the second lowest corporate tax rate in America over the coming years is significant progress," said Governor Mike Pence.
Many state lawmakers showed up for Tuesday's bill signing.
Mayors across Indiana expressed concern about a new law that would cut business taxes. They fear it will cause Indiana cities and towns to lose out on tax revenue they desperately need.
The law signed Tuesday does not force any community to reduce the business personal property tax. It is strictly voluntary and each community can make that choice on its own.
The 225,000 square-foot Lafayette facility, the company's first final assembly plant in Indiana, will assemble the new LEAP engine from CFM International, a 50/50 joint company of GE and Snecma (Safran) of France. CFM, which will enter service in 2016, has already logged total orders and commitments with airlines for more than 6,000 LEAP jet engines.
It will power new Airbus A320neo, Boeing 737 MAX and COMAC (China) C919 aircraft for airlines worldwide. Launched in 2008, the LEAP is now undergoing development testing.
As the engine transitions to the production phase, GE could begin hiring at the new Lafayette facility as early as 2015.