GREENVILLE, S.C. — General Electric (NYSE: GE) has broken ground on a new Power & Water advanced manufacturing facility in Greenville. GE plans to invest $400 million over the next 10 years to expand the company’s advanced manufacturing capabilities and create more than 80 jobs.
The GE Power & Water Greenville Advanced Manufacturing Works facility will be operational in 2015. This will be GE Power & Water's first advanced manufacturing facility.
The 125,000-square-foot facility will serve as an incubator for innovative advanced manufacturing process development and rapid prototyping for the Power & Water businesses, including wind turbines, heavy-duty gas engines, distributed power gas engines, nuclear power services and water processing.
“Greenville serves as the ideal location for the Power & Water advanced manufacturing site. Here we will be able to deliver even more innovative breakthrough products and services, work better with each other and our customers, and bring best-in-class technologies to market quicker,” says Steve Bolze, GE Power & Water president and CEO.
Bolze, South Carolina Gov. Nikki Haley, Sen. Lindsey Graham, Sen. Tim Scott and Greenville County Council Chairman Bob Taylor attended a ribbon cutting ceremony on Tuesday, June 10 at the current GE Greenville Manufacturing site where the new facility will be co-located.
GE began its Greenville operations more than 40 years ago with a 340,000-square-foot site. The site has since grown into more than 1.5 million square feet of factory and offices, manufacturing products for customers worldwide.
GE has more than 3000 employees in Greenville and in the last five years has invested more than $500 million to bolster critical manufacturing activities housed in the Greenville County Power & Water campus.
The stock price of General Electric closed at $27.41 per share on Tuesday, June 10, up nearly 15 percent from $23.78 per share on June 10, 2013.
— Danielle Everson