GE Vernova Expands Schenectady, New York, Operations
05/26/2023
The investment will include a new manufacturing assembly line which will support the production of nacelles for the company's line of 6.1 megawatt onshore wind turbines. The site will assemble three key components for GE Vernova’s 6.1 MW turbine. Operations are scheduled to begin Fall 2023.
“We applaud the administration for the recent domestic content guidance, which gives us the certainty to move forward on this exciting project and look forward to supporting additional guidance,” said Scott Strazik, CEO of GE Vernova/ “We’re proud to expand our American manufacturing footprint and workforce to continue building and innovating energy technology that is cleaner, by bringing wind turbine component assembly, and an estimated 200 new jobs, to New York. This state, and the Capital Region, are an important part of GE’s history and this investment will strengthen Schenectady’s role in driving the energy transition in the future.”
Empire State Development (ESD) has agreed to provide up to $2.5 million in performance-based Green Excelsior Jobs Tax Credits to support the creation and retention of at least 160 jobs, with the potential for 200 positions.
"Under Governor Hochul's leadership ESD is laser-focused on growing the green economy and bringing well-paying manufacturing jobs to New York State,” noted Empire State Development President, CEO and Commissioner Hope Knight. “GE is a global leader in developing renewable energy technology and providing clean, renewable power throughout the world, and we are thrilled that they will continue to grow their legacy in Schenectady."
GE Vernova provides one-third of the world’s electricity and is focused on accelerating the path to more reliable, affordable, and sustainable energy. GE Vernova is planned for a tax-free investment grade spin-off from GE in early 2024. The portfolio includes Renewable Energy, Power, Digital and Energy Financial Services.
Project Announcements
Republic Airways Holdings Plans Tuskegee, Alabama, Training Operations
04/18/2024
South Africa-Based Radel Plans Winston-Salem, North Carolina, Operations
04/18/2024
Firestone Industrial Products Expands Dyersburg, Tennessee, Operations
04/18/2024
Samsung Electronics Expands Taylor, Texas, Chip-Manufacturing Operations
04/18/2024
OMCO Solar Plans Huntsville, Alabama, Production Operations
04/18/2024
Martco-RoyOMartin Upgrades Allen Parish, Louisiana, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024