LM Wind Power laying off 234 employees

8:08 PM, Aug 3, 2012   |    comments
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LITTLE ROCK, Ark. (KTHV) -- Earlier this week Hawker Beechcraft announced it was laying-off 170 employees and now another central Arkansas manufacturer announces its cutting jobs.

Danish windblade manufacturer LM Wind Power announced Thursday that it will cut 234 jobs. That's more than half its Little Rock workforce.

The company will lay off 80 hourly employees, 14 salaried employees and 140 temporary workers over the next few months.

LM Wind is attributing the layoffs to lower demand of its product and news that Congress will not renew a federal production tax credit.

Arkansas Business Publisher Jeff Hankins says without that tax credit incentive, LM Wind is taking precautions. He says, "There's Apparently no indication out of congress that they're going to renew that effort, LM and these other companies are saying we have to scale back production."

That tax credit will expire at the end of this year.

LM Wind Power has a $150 million facility located at the Port of Little Rock. At one point, the company projected employment in central Arkansas to reach 1,000 by 2012.