Ohio Gov. Strickland, GE Aviation CEO and Other Leaders Announce GE Aviation Expansion

Columbus, Ohio – Ohio Governor Ted Strickland, Ohio Department of Development Director Lisa Patt-McDaniel, Ohio Board of Regents Chancellor Eric Fingerhut, and regional and local leaders today joined GE Aviation President and CEO David Joyce for an announcement of a $161 million investment at the company’s global headquarters in Evendale near Cincinnati.

The project will revitalize the headquarters and is expected to retain more than 5,000 Ohio jobs.

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“GE Aviation is one of the most innovative and successful companies in the aerospace industry, as well as an important part of Ohio’s economy,” said Governor Strickland. “Today’s expansion announcement is the result of a valuable collaboration among company leaders and officials at the state and local level. In partnership with GE, this strategic investment will help retain 5,000 jobs and position Ohio as a premier location for growth in aviation and aerospace.”

The State of Ohio has partnered with GE Aviation, Hamilton County, the Village of Evendale, the University of Cincinnati, and the local community on a plan to revitalize GE Aviation’s global headquarters. The plan involves an investment of more than $161 million in improvements to the company’s Evendale complex over the next several years, which is aided by a 15-year Job Retention Tax Credit worth up to $120 million and other incentives that are pending approvals.

“Ohio is home to some of the best and brightest talent in the aerospace industry, and our plans for our Evendale headquarters complement the state’s goal of continuing its leadership position in the aerospace industry," said David Joyce, president and CEO of GE Aviation. “We are very gratified by the growing partnership between Ohio and GE Aviation.”

“I would like to commend the University of Cincinnati for their role in GE Aviation’s decision to expand their headquarters in Cincinnati,” Chancellor Fingerhut said. “This enhanced partnership will make a significant impact on the region and state’s aerospace economy and is another example of how businesses and schools are working together to keep resources in the state. I look forward to working with GE Aviation and the University of Cincinnati on continuing to expand this partnership.”

Governor Strickland joined officials from GE Aviation, Hamilton County, the Village of Evendale, the University of Cincinnati, the Ohio Board of Regents and Department of Development at its Evendale campus to commence the reinvestment. The Evendale revitalization greatly enhances GE Aviation’s competitive position, and includes modernizing engine test and production facilities, razing older, inefficient buildings, and acquiring new equipment for long-term stability and growth.

“Ohio businesses, communities, and an entire region will see the benefits of this transformative project for many years,” Director Patt-McDaniel said. “We are pleased to partner with GE Aviation on their commitment to the greater-Cincinnati community, and we look forward to continually developing a highly skilled aerospace workforce in Ohio.”

GE Aviation is also Adams County’s largest employer. The company made a $90 million investment in its Peebles Test Operation in 2006, which made the facility one of the world’s most advanced jet engine test centers.

Ohio leads the nation in advanced propulsion and power technology, with a world-class research environment including two dedicated federal aerospace laboratories, Wright-Patterson Air Force Base in Dayton and NASA Glenn in Cleveland.

Ohio’s two federal laboratories, 10 universities with dedicated doctoral level programs in aerospace-related disciplines, and more than 450 manufacturers and suppliers play a collaborative role in GE Aviation’s work.

"Having a global powerhouse like GE commit to Ohio for the long run is a major boost to our economic future and long-term competitiveness," said Hamilton County Commission President David Pepper. "I look forward to continuing this vital partnership."

GE Aviation, the world's leading producer of jet engines, employs more than 7,000 people in southern Ohio and northern Kentucky, with a payroll exceeding $600 million. The company is a leading exporter in Ohio, and commands a growing global reach. More than half of GE Aviation's revenues are derived from customers outside of the United States.

“It is exciting for the Village to be part of an opportunity that allows GE Aviation to revitalize their Evendale headquarters, continuing the partnership we have had for over 60 years,” said Evendale Mayor Donald J. Apking. “This revitalization would not have been possible without the leadership of the State of Ohio and the willingness of GE Aviation to allow us to partner with them and to help identify ways we could help.”

GE Aviation's Evendale operation is set on 400 acres and comprises 10 major buildings. In addition to global headquarters activities, Evendale is engaged in jet engine design and assembly, component manufacturing, and development engine assembly and test. The world's most popular commercial jet engine, the CFM56, is assembled in Evendale.

“UC is very enthusiastic about the possibilities and tremendous potential for a new and ground-breaking university-industry-state collaboration involving UC, GE and the State of Ohio,” said University of Cincinnati President Gregory Williams.

To learn more about Ohio’s aerospace industry, please visit www.OhioMeansBusiness.com.

Source: Ohio Governor