First Electrolux payment approved by EDGE board
Memphis’ new Economic Development Growth Engine board on Tuesday approved an $8.1 million payment to Electrolux, the first of many such payments coming the appliance maker’s way.
The money will reimburse Electrolux for specialized paint coating equipment it purchased from George Koch Sons LLC, The Commercial Appeal reports.
The committee also approved a $95,000 payment to Memphis-based Allen & Hoshall, which has been hired to oversee public funds for the project’s construction.
Electrolux is building a new manufacturing facility in Memphis and the state and local government committed up to $137 million in public funds for the project, according to the report…
