$400 Million Investment to Drive Development of Best-In-Class Technology
- Strengthens GE's Power & Water technical capabilities, developing best-in-class innovations for customers across the globe
- Facility capitalizes on $500 million in recent Power & Water investments and further expands GE's commitment to advanced manufacturing
- Power & Water Advanced Manufacturing facility will create more than 80 high tech jobs
Greenville, SC -- June 10, 2014 -- General Electric (NYSE: GE) today announced the construction of a new state-of-the-art Power & Water advanced manufacturing facility to be built in Greenville, SC. GE plans to invest $400 million over the next ten years in Greenville to expand the company's advanced manufacturing capabilities. The new Advanced Manufacturing Works is expected to open in 2015 and create more than 80 jobs.
GE Power & Water President and CEO Steve Bolze, South Carolina Governor Nikki Haley, Senator Lindsey Graham, Senator Tim Scott and Greenville County Council Chairman Dr. Bob Taylor attended a ceremonial groundbreaking at the current GE Greenville Manufacturing site where the new facility will be co-located.
This will be GE Power & Water's first advanced manufacturing facility. The facility will serve as an incubator for innovative advanced manufacturing process development and rapid prototyping for the Power & Water businesses, including wind turbines, heavy duty gas engines, distributed power gas engines, nuclear power services and water processing. By developing new techniques and production processes at the new facility, the GE Power & Water business will be able to design, test, iterate and bring its products to market for customers quicker than ever.
"Greenville serves as the ideal location for the Power & Water advanced manufacturing site. Here we will be able to deliver even more innovative breakthrough products and services, work better with each other and our customers, and bring best-in-class technologies to market quicker," GE Power & Water President and CEO Steve Bolze commented. "GE thanks Governor Haley, Senator Graham, Senator Scott and Council Chairman Taylor for their hard work and their continued partnership which made today possible."
GE started in Greenville more than 40 years ago with a 340,000 sq. ft. site. The site has since grown into more than 1.5 MM square feet of factory and offices, manufacturing products for customers worldwide. GE has more than 3,000 employees in Greenville and, in the past five years, has invested more than $500 million to bolster critical manufacturing activities housed on the GE Power & Water campus. The company has established valuable relationships with local community schools, universities and technical programs to develop new technologies and create a system to support those who are passionate about growing with the industry.
South Carolina Governor Nikki Haley said, "The Greenville community has a long standing relationship with GE, and it welcomes the new GE Power & Water Advanced Manufacturing Works facility. Manufacturing innovation is integral to economic progression and I am delighted that South Carolina has the infrastructure and skilled workforce that enables GE to shape the future of work."
"Today's Advanced Manufacturing Works facility groundbreaking is an exciting day for South Carolina and Greenville," said Senator Lindsey Graham. "GE's continued development in the state demonstrates that South Carolina is a great place for business and we will continue to lead in the development of innovative solutions that solve today's toughest challenges."
"Today's announcement builds on a well-established relationship between Greenville and General Electric," Senator Tim Scott said. "The Upstate continues to be at the epicenter of South Carolina's manufacturing renaissance, as our state is home to a well-trained workforce that is eager to produce world-class products. GE's commitment is a great sign for the future of our state's economy."
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
About GE Power & Water
GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar, biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world's most complex challenges related to water availability and quality. Power & Water's six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE's largest industrial business.
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