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

		Ohio Business Development Coalition logo. (PRNewsFoto/Ohio Business Development Coalition) COLUMBUS, OH UNITED STATES

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.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20071107/CLW113LOGO )

    "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 http://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 http://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