Hogsett: Rexnord ‘Unwilling’ to Reconsider Mexico Move
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis Mayor Joe Hogsett and U.S. Senator Joe Donnelly (D-IN) say the chief executive officer of Wisconsin-based Rexnord Corp. (NYSE: RXN) is unwilling to reconsider moving the company’s Indianapolis operations to Mexico. Hogsett says he emphasized to Todd Adams the city’s intention to claw back local tax incentives.
Rexnord made its decision to move some 300 jobs to Mexico official earlier this week. Hogsett’s office says the city will have more information on the tax incentive efforts "in the coming days."
During a phone call Thursday with Adams, Donnelly and Hogsett encouraged the Rexnord CEO to "make every possible accommodation to support workers who will lose their jobs."
"For years, Indianapolis and hundreds of hardworking families have invested in Rexnord to sustain and grow its local workforce," said Hogsett. "Despite every offer I have made and the good-faith efforts of its employees, Rexnord has decided they would rather pursue blind profit than invest in Indianapolis. I made clear to Rexnord’s CEO today that they couldn’t be more wrong. In a competitive global marketplace, Rexnord is making an ill-advised decision to cast aside the quality, productivity and experience of their long-time, dedicated Indianapolis employees to chase cheap labor."
Last month, Hogsett announced he was realigning the city’s Carrier Task Force to provide assistance to affected Rexnord employees. The mayor says that includes a partnership with Pete the Planner, who will provide financial planning assistance, as well as support from EmployIndy, IUPUI and Vincennes University, among others.