According to a just released Tripp Umbach study, GE is making a significant investment across the state of Illinois and continued growth for the company. It increased the number of Chicago employees over the past two years by 33% with a total economic impact of $4.45 billion in Illinois. It also supports one in 365 jobs in Illinois. This is a significant number.
Over the next few years GE will be adding 1,000 jobs in Chicago, pulling from the city's deep pool of industrial and financial services talent. The new positions will join the 1,000 GE employees currently in Chicago, as well as the 4,000 across the state, supporting their customers and delivering value only GE can bring.
Vested in the Chicago community, GE renovated its Chicago office space, home to GE Capital and GE Transportation businesses, in turn creating 942 jobs and providing an economic impact of $126.9 million on the Chicago area throughout the course of the project.
It has also contributed $6 million across the state, including more than $4.5 million annually to the Chicago area through grants, volunteerism, company donations, and employee charitable contributions. These donations include support of local health clinics, Junior Achievement, the Consortium for Educational Change, the Greater Chicago Food Depository, BuildOn, and Big Brothers & Big Sisters.
GE Chairman and CEO Jeff Immelt said, "Chicago is one of the nation’s great hubs of innovation and one of the world's great cities and GE is proud of our presence and impact there. Since 2011 we have added more than 500 jobs in Chicago, with additional jobs being created in Illinois. We will continue to invest in this key region, bringing our businesses closer to the customers and industries they serve."
According to the Tripp Umbach report, in 2012 GE spent nearly $3 billion with 550 Illinois-based suppliers. More than 25 percent of those dollars were spent with small and small disadvantaged businesses (as defined by the Small Business Association), supporting and growing the local small business sector. GE Capital also supplied more than $5.1 billion in credit lines to 6,030 local businesses and the company has provided intellectual assistance to 77 Chicago businesses, helping them harness a wide range of innovations in order to better achieve their goals.
GE’s presence in Chicago includes the global headquarters for GE Transportation and the Monogram® DesignCenter. GE Capital, the company’s financial services arm, also has a number of businesses in Chicago, including the headquarters for three GE Capital, Americas’ businesses: GE Antares Capital, Commercial Distribution Finance and Rail Services.
For more information on open positions at this exciting company go to jobs.gecareers.com. To follow local company news via Twitter (@GEChicago).