Consultants Forum Advertise
Subscribe
Close

  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Subscribe Now
Renew

Area Development - Site Selection, Facility Planning and Workforce Development

GE Aviation Investing $161 Million in Ohio Facilities, Retaining 5,000 Jobs

07/30/2009
GE Aviation will invest up to $161 million to upgrade its manufacturing facilities in Evendale, Ohio, according to the Cincinnati Enquirer. The company will receive about $115 million in state tax credits over a 15-year period; part of the deal requires the company to keep 5,000 jobs in the area for at least 18 years. GE Aviation manufactures aircraft engines on a 400-acre campus. "Some of these buildings date back to World War II and are very inefficient to operate," says Rick Kennedy, a GE Aviation spokesperson, quoted by the Enquirer. "This allows us to make improvements that will lower our overhead." Kennedy says that GE Aviation never threatened to leave Ohio but does need to make the improvements in order to continue to thrive in the area. The Enquirer reports that upgrade plans include $76 million for building improvements, $50 million for new machinery, $10 million for professional fees, $3 million on fixtures and furniture, and $22 million for additional infrastructure improvements.

Share

Exclusive Research