This wasn’t an easy decision. We recognize the personal impact on our workers, families and communities. With our three-year transition timetable and UTC Employee Scholar Program, our aim is to provide our employees with both time and opportunity for a smooth transition. We appreciate the contributions our employees make every day and seek to provide best-in-class support for continuing education now and for up to four years in any career path of their choosing.
We look forward to continuing discussions with the United Steelworkers and to reaching an agreement that provides clarity and certainty for our Indianapolis employees during this transition.
In the meantime, we’ve fully repaid local tax incentives and training grants, fulfilling our commitment to the City of Indianapolis and The Indiana Economic Development Corporation. We have not received and will not claim the $5.1 million federal Advanced Energy Manufacturing Tax Credit that had been awarded.