GE to Invest More than $450 Million in U.S. Manufacturing in 2023

Researched by Industrial Info Resources (Sugar Land, Texas)--General Electric (NYSE:GE) (Boston, Massachusetts) said last week it plans to invest more than $450 million in its U.S. manufacturing facilities in 2023, including more than $335 million across its aerospace business and more than $117 million in its energy businesses. Industrial Info is tracking $341 million worth of projects from GE in the U.S.

GE's portfolio of energy businesses, GE Vernova, consists of two units: Renewable Energy, which includes manufacturing onshore and offshore wind turbines and related components as well as other renewable technologies, while Power includes manufacturing steam and gas turbine units.

"By improving capacity and modernizing facilities, GE Vernova will be well positioned to further drive decarbonization, increase electrification, and lead the energy transition," GE Vernova Chief Executive Officer Scott Strazik said in a related press release.

GE Vernova's investments for 2023 include:

• $35 million for a gas turbine-manufacturing plant in Greenville, South Carolina. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a project report
• $20 million for expanding a nacelle-manufacturing facility in Pensacola, Florida; see project report. A nacelle is a wind-turbine component that houses generating components such as gearboxes and control electronics
• $11 million to upgrade a power equipment-manufacturing plant in Schenectady, New York, to increase capacity of gas turbines and generator products; see project report

In terms of manufacturing wind-turbine components, GE plans to support a New York State Energy Research and Development Authority (NYSERDA) wind-development solicitation offshore New York, via two projects at the Port of Coeymans to be constructed only "if it wins a sufficient volume of orders from customers in the state's ongoing solicitation for up to 4.6 GW [gigawatts] of offshore wind," according to a January 26 press release. NYSERDA has said it plans to announce the awards in the spring.

All six bidding companies have said they plan to utilize GE components. For example, Attentive Energy One (AE1) said in its proposal it had reached an agreement with GE to use blades and nacelles built at the two projects, should it receive the contract. AE1 is a partnership of French energy giant TotalEnergies SE (NYSE:TTE) (Courbevoie) and New York City-based Rise Light & Power.

Subscribers can click here for the project reports.

Meanwhile, GE Aerospace's investments for 2023 include:

• $31 million to expand an aircraft engine-manufacturing plant in Lynn, Massachusetts; see project report
• $17 million to expand an aircraft engine and parts manufacturing plant in Evendale, Ohio, outside of Cincinnati; see project report
• $7 million to upgrade an engine assembly-manufacturing plant in Lafayette, Indiana; see project report
• $4 million to expand an engine-manufacturing plant in Madisonville, Kentucky; see project report

Subscribers to the GMI database can click here for a look at all of the reports discussed in this article, and click here for the related plant profiles.

Click here for a full list of active projects from GE in the U.S.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).