Tech Across Ohio - GE Aviation Investment Strengthens Ohio Aerospace Leadership
A recent announcement by GE Aviation proves that Ohio’s aerospace advancements continue to take flight. The company recently announced a $200 million revitalization of its Evendale, Ohio headquarters, further strengthening Ohio’s reputation as a global leader in the aerospace industry.
The revitalization effort is a public-private partnership that includes a $100 million investment by GE Aviation for capital improvements, a 15-year Job Retention Tax Credit from the Ohio Department of Development (valued at over $100 million) and a $1 million dollar grant from the village of Evendale to launch the revitalization. Test and production facilities will be modernized, inefficient buildings will be razed and new equipment for long-term stability and growth will be acquired. The revitalization is expected to help retain 5,000 jobs while positioning Ohio as a premier location for growth in aerospace and aviation
GE Aviation is a world-leader in providing commercial and military jet engines and components as well as avionics, electric power and mechanical systems for aircrafts. The company employs about 7,400 people in southern Ohio and northern Kentucky, with a payroll exceeding $600 million. GE is also one of Ohio’s leading exporters, taking advantage of Ohio’s central location and world-class multi-modal transportation infrastructure.
According to David Joyce, president and CEO of GE Aviation, Ohio’s talented aerospace workforce is why the company calls Ohio home. Ohio houses two federal laboratories, ten leading universities with doctoral-level programs in aerospace-related disciplines and over 450 aerospace manufacturers and suppliers. Ohio also leads the nation in advanced propulsion and power technology.
Click here to read more about the revitalization project.