Carrier receives state incentives to retain US jobs

United Technologies Corp (UTX.N) says on Wednesday it will retain more than 1,000 jobs and continue to manufacture gas furnaces in Indianapolis after new financial incentives from the state of Indiana and talks with President-elect Donald Trump and Vice President-elect Mike Pence.

Trump, who will tout the deal at an event at Carrier’s Indianapolis plant Thursday, had vowed during the campaign to impose hefty taxes if Carrier moved jobs overseas.

The deal will save about half of the 2,100 jobs that Carrier’s parent company United Technologies announced in February it would cut in closing two Indiana plants.

Carrier also vowed “to make significant investments to continue to maintain a world-class furnace factory.”

Reuters/Hauwa M.