GE Plans to Invest Over $450 Million to Upgrade US Manufacturing in 2023

GE Plans to Invest Over $450 Million to Upgrade US Manufacturing in 2023
A woman stands in front of a General Electric (GE) sign during World Artificial Intelligence Conference in Shanghai on Sept. 1, 2022. Aly Song/Reuters
Reuters
Updated:

General Electric said on Thursday it plans to invest more than $450 million in its existing manufacturing facilities in the United States this year and hire more than 1,700 employees, in a bid to bolster its aerospace and energy businesses.

The move comes as the Boston-based conglomerate is wrestling with inflationary and supply-chain pressures, and is adjusting its prices to offset higher costs.