Job creation is integral to a vibrant economy and a healthy society. No matter where in the world you live, greater employment levels lead to a strong economy with more spending, saving and investing. The ripple effect from creating even one job affects families, neighborhoods and local economies.
As a global company, GE’s success depends on meeting the needs of an increasing portion of the world’s population. Our international customer base is growing, and we are investing in research, manufacturing and solutions to serve our global customers better and faster. GE currently operates in more than 160 countries, and our trade and investment activities support local communities through the development of jobs, training, trade, rule of law and better governance.
GE’s growth has contributed to job creation worldwide. But job creation is not a zero-sum game; creating jobs in global markets doesn’t shift employment away from one country to another. GE’s global business makes us one of the largest exporters in the U.S. helping to support American jobs for 134,000 GE workers
Our evolution as a global competitor reflects our ever-deepening knowledge of emerging markets, and our development of a strategic portfolio is designed to get closer to the customer through localization. Over the past few years, we have increased the number of senior leaders outside the U.S. by 50%, and we have added about 1,000 infrastructure salespeople every year in the emerging markets. In countries like India, we are helping to drive growth: GE currently has over 250 employees in Pune and with the addition of large scale manufacturing, plans to double this number each year for the next 3 years. The plant will source maximum content locally and hire local talent. In the U.S., GE is spurring a reinvigoration of the manufacturing sector. Since 2009, we have announced plans to create more than 16,000 jobs in the U.S. as well as announcing several new or remodeled U.S. facilities, including GE’s Advanced Manufacturing and Software Technology Center (AMSTC) in Van Buren Township, Michigan; a new locomotive plant in Fort Worth, Texas; an aviation composites facility in Ellisville, Mississippi; and a new engine remanufacturing facility in Grove City, Pennsylvania.
Not only has GE been creating jobs to support its own operations, we are helping our customers build their businesses, too. According to the National Center for the Middle Market, a partnership between GE Capital and the Ohio State University Fisher College of Business, middle-market businesses lead the way in creating jobs and pumping life into the economy. In 2012, the middle market added 1.17 million new jobs. The average employment growth for middle market companies was 2.7%, outpacing the 2.1% rate for large U.S. firms. GE Capital is a major source of funding for the middle market, committing over $129 billion in the U.S. in the past year. For example, we helped snack manufacturer Shearer’s Foods, Inc., with financing. Shearer’s Foods updated and expanded operations, added 359 new jobs and grew revenue to $405 million in 2011. GE continues to invest in the future, grow its customer base, and strengthen economic and social development worldwide.