NISKAYUNA, NY--(BUSINESS WIRE)--Jan. 18, 2002--GE announced today that it is investing more than $100 million in a multi-year project to modernize its research and development headquarters here. The newly renamed GE Global Research Center will be a state-of-the-art research lab and hub for new technology innovations at GE.
"The most admired companies of the future will be known for their technical excellence," said Chairman and CEO Jeff Immelt. "They will have the best products and services, powered by the best technology. In the GE of the 21st century, we will drive technical excellence in all our businesses and clearly distinguish ourselves in the marketplace. The Global Research Center is at the heart of this philosophy and will spearhead GE innovation and growth."
The GE Global Research Center is one of the world's most diversified industrial labs, conducting research for all GE businesses, from Power Systems, to Plastics, to Medical Systems. The Center has been the cornerstone of GE technology for more than 100 years by developing breakthrough innovations in areas such as medical imaging, energy generation technology, jet engines and lighting. The GE Global Research Center has been located in New York State's Capital District since 1900, and has expanded to include facilities in Bangalore, India and Shanghai, China.
"As was the case when the lab was founded, this is an investment in the future of GE," said Scott Donnelly, senior vice president of GE's Global Research Center. "GE is built on great people with great ideas, and we want to have a facility that will give our people the tools, the resources and the environment they need to take GE technology to even greater heights."
The multi-year renovation project includes:
- A new wing of laboratories to facilitate research in cutting-edge areas such as biotechnology and nanotechnology, as well as advanced research in optical media applications, lighting and plasma systems, and high-performance polymers. The Center is leading GE efforts in emerging technologies by identifying and exploring possible applications for the GE businesses. - State-of-the-art meeting and conferencing facilities. The Center will be a hub for GE business leaders and their product and technology teams, who will come to the Center to spread ideas and practices. In addition, the Center is designed to increase customer interaction.
As a result of this investment, GE's Global Research Center will continue to be a focal point of technology in New York State. The Center employs 1,700 people here, including 1,200 technologists (600 of which are PhDs) and people from 45 different countries. GE will continue to be a major source of intellectual capital in the Capital District, attracting the best technical minds from around the world.
GE (NYSE:GE) is a diversified technology, services and manufacturing company with a commitment to achieving customer success. GE operates in more than 100 countries and employs approximately 310,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com.
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