Carrier to receive $7 million tax grants to keep jobs in state

12/2, 3:23 AM (Source: TeleTrader.com)

Indiana state officials agreed to give United Technologies Corporation’s Carrier $7 million in tax advantages in order for it to keep at least 1,069 jobs at its Indianapolis plant, the company stated on Friday. A senior Mexican state official characterized the deal as worthy of a "banana" republic today.

Carrier was offered $5 million in conditional tax credits by the Indiana Economic Development Corporation, as well as $1 million by the state of Indiana. The air-conditioner maker is also to receive $1 million in training grants to support workforce development.

U.S. president-elect Donald Trump and vice president-elect Mike Pence celebrated the deal yesterday. Earlier, during his election campaign, Trump had promised tariffs for Carrier if it would send jobs to Mexico. The company will still shift an estimated 1,300 positions to the country.

Teletrader Newsroom / RV