Memphis Economic Development Board Approves $8.1M Electrolux Reimbursement

A special committee of the new EDGE economic development board voted today to give a total of $8.1 million in Tennessee taxpayer funding to appliance maker Electrolux. The payment will reimburse Electrolux for money it’s already given to George Koch Sons LLC to purchase specialized equipment that produces specialized paint coatings. Electrolux plans to use the equipment at a kitchen appliance factory to be constructed in Memphis. Electrolux’s contract with George Koch Sons is worth $27 million. The Evansville, Ind. company has committed to spending $5.5 million in the greater Memphis area

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