02.03.2023 GE
- Investments in cutting-edge equipment, facility upgrades, other improvements will help ensure strong future for U.S. workforce.
- GE to hire more than 1,700 employees for open external positions with GE Aerospace, GE Vernova’s businesses.
GE today announced plans to invest more than $450 million in its existing U.S. manufacturing facilities this year, purchasing cutting-edge equipment and making upgrades to position the company and its U.S. workforce for a strong future in advance of the company’s planned creation of two independent, industry-leading companies in energy and aerospace. <…>
GE Vernova Investments
GE Vernova, GE’s portfolio of energy businesses, expects to make investments this year – including capacity upgrades, facility maintenance, and equipment and tool management – to bolster its efforts in driving the energy transition and accelerating the path to reliable, affordable, and sustainable energy. These planned investments also will help position GE to seek further opportunities through the Inflation Reduction Act and other critical policies.
“By improving capacity and modernizing facilities, GE Vernova will be well positioned to further drive decarbonization, increase electrification, and lead the energy transition,” said GE Vernova CEO Scott Strazik. “These investments will ensure our employees and facilities are ready to support U.S. energy independence and sustainability goals, while positioning the company for long-term stability and success.”
Across its portfolio of businesses, GE Vernova is hiring externally for more than 920 U.S.-based positions and anticipates investing upwards of $117 million in its U.S. energy facilities this year, including:
- $35 million in Greenville, South Carolina for capacity, facility maintenance, and equipment and tool maintenance, among other areas. These investments will allow GE to increase capacity of gas turbine units and spare parts made in and shipped from Greenville. Further, investments in Greenville will ensure the best quality for customers and create the ability for technology advancement and production.
- $20 million in nacelle manufacturing facilities in Pensacola, Florida to expand production capacity and bring new products to market.
- $11 million in Schenectady, New York, including investments in capacity, facility maintenance, and equipment and tool management. These investments allow Schenectady to replace and upgrade tooling for improved on-time performance, to increase capacity of both gas turbine and generator products and services, and to ensure the best quality for customers.
The 2023 investments are in addition to the more than $200 million announced in October 2022 by GE-led joint venture Global Nuclear Fuel-Americas (GNF-A) and TerraPower to build the NatriumTM Fuel Facility near Wilmington, North Carolina.
GE currently employs more than 45,000 employees and operates 58 manufacturing facilities in the U.S. Continued investment this year will help GE’s aerospace and energy businesses as they move toward launching two independent industry leaders, allowing each company to drive deeper operational focus, financial flexibility, and continued innovation.
GE Vernova, a dynamic accelerator comprised of our Power, Renewable Energy, Digital and Energy Financial Services businesses, focused on supporting customers’ transformations during the energy transition.