Posted on 08/29/2016 4:34:38 AM PDT by cp124
General Electric is officially headed across the border with a move that delivers a shot in the arm to manufacturing in Ontario and a major blow to Wisconsin and the Export-Import Bank.
GE announced Friday morning that it will break ground on a new Brilliant Factory in Welland, Ontario, almost one year after news broke that the industrial giant would close its engine factory in Waukesha, Wisconsin. GE blamed Congress at the time for failing to reauthorize the Export-Import Bank.
Located about 15 miles southwest of Niagara Falls, the factory will be dedicated to production of energy-efficient reciprocating gas engines and utilize the industrial Internet of Things along with other GE smart technology. The 450,000-square-foot factory is expected to employ about 220 people by the end of 2020. GE Canada president Elyse Allan is optimistic that number could grow with factory expansion.
(Excerpt) Read more at industryweek.com ...
A massive multi billion $ company, that was bailed out by US taxpayers, needs a few free million from a US bank or they act like a spoiled brat?
They better hope Trump doesn’t win.
And GM moved production of Chevy Camaro from Ontario to Michigan as a result of passage of Right to Work legislation in Michigan several years ago. As to why RTW isn’t producing results in Wisconsin? Perhaps all the union legal challenges to passage of same?
The jobs Czar......for Canada?
G.E. departed because they wanted the taxpayer to pay for their losses in the event the contracts were not paid by the buyer.
It’s a good thing the Export/Import bank expired.Why should the Taxpayer support their success.They can do it on their own.
pitiful, ignorant statement
I believe the former CEO of GE works for Obama.
It’s not as if GE can’t make its own way in the credit world...
Siemens-Westinghouse had a GT plant in Ontario as well. Didn’t work out very well, and the work was moved south across the border after a few years.
Too hard to move goods and services and PEOPLE across the Canadian border!
“It’s not as if GE can’t make its own way in the credit world...”
That’s Right.So why were they so worried about the Export/Import Bank?
They were looking for the Taxpayers to bail them out if a sale fell through.
Yeah when I think recip engines the first name that comes to mind is General Electric.
They just recently shot their digital pathology joint venture (Omnyx) through the head.
Then can. But if a corporation can get a government to subsidize something rather than pay for it themselves then they will every time. Doesn't matter how big or how small they are.
Deadbeets collecting corporate welfare.
“Too hard to move goods and services and PEOPLE across the Canadian border!”
I had to move so disaster recovery media across the Canadian border on a weekend one time. It was on the weekend and I suppose their customs guys that do that sort of thing don’t work on the weekend.
GE is a corporation, they have to make a profit. If the CEO fails to make the best possible profits they will be fired. I can’t blame them, it is a shame the US can’t compete to keep businesses.
When Trump lowers the corporate tax rate to 15% business will be able to keep enough of their profits to want to stay here. I would prefer no corporate tax, but certainly 15% is better than 35% or more
With both hands. How is Trump going to prevent this from happening in the future?
“pitiful, ignorant statement”
Bert.It seems that the only Pitiful,Ignorant statement was made by you.
Think about that.
GE exporting jobs
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