Indiana to give Carrier $7 mln to keep jobs in U.S.

12/1, 7:18 PM (Source: TeleTrader.com)

The state of Indiana offered to give United Technologies Corporation’s heating and air conditioning brand Carrier $7 million in tax breaks over 10 years in order for it to keep 1,000 jobs in the United States, the Wall Street Journal reported on Thursday citing sources close to the company.

President-elect Donald Trump and his pick for vice president, Mike Pence, are expected to confirm the details of the deal later today in Indiana.

Earlier this week, Carrier announced its decision to continue operating in Indianapolis following “very productive” negotiations with Trump and Pence. However, the company still intends to go through with closing one if its plants in Indiana as well as with moving 600 jobs from the Indianapolis furnace plant to Mexico.

Carrier originally planned to relocate 1,400 jobs from the U.S. to Mexico in order to reduce the costs of its operations.

Teletrader Newsroom / NP