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GE Capital Creates Technology Center In New Orleans

GE Capital will create an Information Technology Center of Excellence in New Orleans to support its IT and software development units.

The center is expected to create 300 new jobs with salaries ranging from $60,000 to $100,000 plus benefits.

"When selecting a location for a center of this importance, we considered many attractive options across the country. Louisiana rose to the top of our list because of the advantages it offers in terms of talent, infrastructure, location and environment." Brackett Denniston, GE Senior Vice President and General Counsel, said.

"We look forward to building on GE's already strong presence in Louisiana with these high-wage, highly skilled jobs. This center will be an important resource for GE Capital and the New Orleans community," he added.

Louisiana Economic Development officials estimate that the new center will also create approximately 300 indirect jobs. By the end of 2015, when the Technology Center is fully staffed, its total payroll will be in excess of $28 million, excluding benefits.

GE Capital initially considered hundreds of municipalities for this project. New Orleans was selected because of its rapidly growing technology sector and attractive quality of life, the state's strong business climate, customized recruitment services, and a specialized, competitive, incentive package, a Louisiana Economic Development official said.

Gov. Bobby Jindal noted in 2009 the state adopted an enhanced digital media incentive program. Since then Louisiana has had the second-fastest growing information sector in the country in both absolute and percentage job growth terms. To secure the GE Capital project, state economic development officials created a customized incentive package that includes a $10.7 million performance-based grant to reimburse certain costs associated with relocation, recruitment, office refurbishment, lease expenses and office equipment. Additionally, LED committed to provide $500,000 per year for 10 years to fund enhanced software development-focused academic programs will be provided by Louisiana's higher education institutions. These programs will focus on nurturing future software talent.

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