GE Aerospace investing $225M to modernize research center
The State of New York has also committed USD 8.4 million in tax credits through Empire State Development (ESD) to the project, with Schenectady County Metroplex Development Authority contributing additional local incentives valued at USD 5.3 million.
GE Aerospace has announced a USD 225 million investment to modernize the GE Aerospace Research Center in Niskayuna, New York.
The State of New York has also committed USD 8.4 million in tax credits through Empire State Development (ESD) to the project, with Schenectady County Metroplex Development Authority contributing additional local incentives valued at USD 5.3 million, GE Aerospace said in a press release.
“The future of flight is developed through rigorous scientific and technical pursuit spanning decades. We are ready to turn this investment into breakthroughs that will define the next era of aviation,” Joseph Vinciquerra, general manager and senior executive director, GE Aerospace Research, said. “We are grateful to our state and regional partners for their support and continued commitment to New York's role in our nation’s pursuit of aerospace advancement.”
The combined investments will modernize the Niskayuna site to strengthen GE Aerospace’s research capacity, create 75 new full-time, high-paying jobs over five years, generate short-term construction employment, and support execution of advanced technology projects with partners in both academia and the federal sector, the company said.
“New York State has a bold legacy of innovation, built on the shoulders of big ideas and big investments by globally renowned companies like GE Aerospace,” New York Governor Kathy Hochul said. “We want to ensure that the next generation of technological discoveries happens here, and today’s announcement demonstrates that our legacy is only getting stronger.”
Senator Chuck Schumer said he was thrilled that the workforce expansion of GE Aerospace Research in Niskayuna and upgrades to the campus are on their way to the Capital Region.
“This investment of $225 million to modernize and upgrade the GE Aerospace Research Center in Niskayuna will allow GE Aerospace to shape the future of aviation right here in our Capital Region, bringing good-paying jobs and economic development that will benefit all who call our region home,” Congressman Paul D. Tonko, NY-20, said.
