GE Expands Reach in Chicago

Business Wirevia The Motley Fool
Updated

GE Expands Reach in Chicago

Contributes to City's Economic Development and Increases Investment in the Community

  • 500 jobs added over the last two years

  • GE Volunteers contribute 11,000+ volunteer hours

  • Renewed lease with expansion to support growing workforce

CHICAGO--(BUSINESS WIRE)-- GE today stated it increased its workforce in Chicago by adding 500 jobs in the city since announcing the company's commitment to grow its local employee base in May 2011. The increase reflects GE's desire to build on the company's strong presence in the region and continue to serve current and potential customers. Currently, GE has 1,500 employees in Chicago and 4,300 across the State of Illinois.


Of the 500 jobs, the majority have been within GE Capital; however, other GE businesses have also increased their presence. Last year, GE Transportation moved its global headquarters to Chicago and GE recently opened the Monogram® Design Center, at LuxeHome in the Merchandise Mart.

"Chicago is a great place to build a foundation for future growth in the middle-market because Chicago is the financial hub of the middle-market," said GE Capital, Americas President and CEO Dan Henson. "Adding jobs in Chicago allows us to better serve this market and creates tremendous opportunity for our current and future employees."

GE Capital and Slate, an online magazine, are also in Chicago today for the Roadshow for Growth, a 20-city bus tour aimed at spotlighting key contributions, opportunities and challenges of middle-market companies. Chicago middle-market companies are key customers for GE Capital and its jobs here support them.

"GE is taking a lead role in strengthening the City's economy," said Mayor Rahm Emanuel. "As an industry leader and good corporate citizen, GE's presence further establishes Chicago as a world-class city."

"Chicago works for GE because of its central location, vast talent pool and growing economy. In turn, GE works for Chicago by adding jobs and our investment back into the community through volunteer hours and grant support," continued Henson.

On May 10, more than 800 employees will volunteer their time to support the Chicago community during the annual GE Community Day. In this single day of caring, GE volunteers will complete projects at Busse Woods, the Greater Chicago Food Depository, Catalyst School, the Special Olympics' Spring Games and Aunt Martha's Youth Service and Health Center.

"As we build our workforce, we will continue to strengthen the community through events like GE Community Day and the 11,0000 volunteer hours our employees give in the Chicago area each year," added Henson. "In addition, over the last two years, GE has invested more than $2 million in grants to local nonprofits, including the GE Foundation's Developing Health program."

To accommodate the company's growth, GE renewed a 15-year lease with expansion at its West Loop location, totaling more than 425,000 square feet. In total, GE has more than 500,000 square feet leased within Chicago's city limits.

GE's presence in Chicago includes the global headquarters for GE Transportation and the Monogram® Design Center. GE Capital, the company's financial services arm, also has a number of businesses in Chicago, including the headquarters for three GE Capital, Americas' businesses: GE Antares Capital, Commercial Distribution Finance and Rail Services. To follow local company news via Twitter, go to https://twitter.com/GEChicago. For news and updates on GE Community Day, use the hashtag #GECD13.

About GE

GE (NYS: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.



GE
Jennifer Sampson, 312-441-7055
Jennifer.sampson1@ge.com
or
Ned Reynolds, 203-229-5717
Ned.Reynolds@ge.com

KEYWORDS: United States North America Illinois

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