GE Aviation Investment Further Strengthens Ohio's Global Leadership Position in the Aerospace Industry

GE Aviation Investment Further Strengthens Ohio's Global Leadership Position
in the Aerospace Industry
Combined investment of $200 million in Evendale, Ohio headquarter expansion

COLUMBUS, Ohio, Nov. 5 /PRNewswire/ -- GE Aviation's recent announcement of a
$200 million revitalization of its Evendale, Ohio headquarters further
strengthens Ohio's global leadership position in the aerospace industry,
according to the Ohio Business Development Coalition, the nonprofit
organization that markets the state for capital investment.

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"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 to 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."

The $200 million revitalization project is a strategic 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 more than $100 million and a $1 million grant from the
village of Evendale to launch the revitalization. The project includes
modernizing engine test and production facilities, razing inefficient
buildings and acquiring new equipment for long-term stability and growth.

GE Aviation, the world's leading producer of jet engines, employs about 7,400
people in the southern Ohio and northern Kentucky region, with a payroll
exceeding $600 million. In addition, GE Aviation is one of Ohio's leading
exporters, taking advantage of Ohio's world-class multi-modal transportation
infrastructure and reflecting the growing global nature of the company. More
than 50 percent of GE Aviation's revenues are derived from international
customers.

GE Aviation, an operating unit of General Electric Company (NYSE: GE), is a
world-leading provider of commercial and military jet engines and components
as well as avionics, electric power, and mechanical systems for aircraft. GE
Aviation also has a global service network to support these offerings. For
more information, visit www.ge.com/aviation.

"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."

Only Ohio can boast two federal laboratories, ten leading universities with
dedicated doctoral level research and education programs in aerospace related
disciplines, and more than 450 aerospace manufacturers and suppliers all
working in collaboration to develop innovative solutions for the nation's
aerospace needs. The birthplace of flight, Ohio continues to be a pioneer in
aviation. Ohio is the nation's leader in advanced propulsion and power
technology, providing a world-class research environment that includes two
dedicated federal aerospace laboratories - Wright-Patterson Air Force Base in
Dayton and NASA Glenn in Cleveland - and ten aerospace related doctoral
programs at Ohio universities. Ohio is leading the country in fields such as
propulsion and power, advanced materials, advanced design and advanced
manufacturing.

Ohio's aerospace industry is supported by the Ohio Third Frontier Program, the
state's largest-ever commitment to expanding Ohio's high-tech research
capabilities and promoting innovation and company formation to create
high-paying jobs for generations to come. Since its inception, the program has
created or commercialized more than 500 companies and has already created $6.6
billion in economic impact in Ohio, a 9:1 return on investment.

"Businesses, such as GE Aviation that are leaders in the aerospace industry,
recognize the business and personal benefits of being located in Ohio," said
Ed Burghard, executive director of the Ohio Business Development Coalition.
"Business owners profit from the state's newly revamped corporate tax code as
well as the bottom-line benefits of better work-life balance for their
employees. In Ohio, executives and employees have the resources and time to
pursue their professional goals and personal aspirations without having to
sacrifice one for the other. Ohio truly is the state of perfect balance."

About the Ohio Business Development Coalition
The Ohio Business Development Coalition (OBDC) is a nonprofit organization
that markets the state for capital investment. The OBDC provides marketing
strategy and implementation to support Ohio's economic development efforts.
For more information on business development or business relocation, visit
www.ohiomeansbusiness.com.

For more information about Ohio's aerospace industry, view the complete
industry brochure at
http://www.ohiomeansbusiness.com/docs/Ohio_Aeropropulsion_Brochure.pdf

SOURCE Ohio Business Development Coalition

Dace de la Foret, Paul Werth Associates, Inc., +1-614-224-8114,
delaforet@paulwerth.com