GE Energy (NYSE: GE) announced today that it is investing $10 million in the development of a new Oil & Gas Training Facility to support and advance training and development for its customers and employees. Training at the facility will focus on customer, technical and leadership skills aimed to meet the changing needs and growing global demand for drilling technologies. Scheduled to open in the fourth quarter of 2012, the 50,000-square-foot facility will be GE’s premier oil and gas training facility in the U.S. The company also is creating approximately 100 new technical jobs in Houston to support the growth of GE’s Drilling Systems business, which is headquartered at the same location.

Rendering of GE's new Oil & Gas Training Facility in Houston, Texas (Photo: Business Wire)

Located at GE’s Drilling Systems Technology Center, the new facility will continue to drive competitiveness in the region and reinforces Houston’s claim to the title of “energy capital of the world.”

“Despite tough economic times, Houston has demonstrated an unwavering economic strength—due in no small part to the energy leadership and innovative manufacturing found throughout this region,” said John Krenicki, vice chairman, GE and president and CEO, GE Energy. “Today’s announcement emphasizes our continued commitment to investing in solutions that power the world, as well as in opportunities that drive American competitiveness.”

Krenicki announced the new investment following a keynote address to local business and community leaders at a breakfast co-hosted with Greater Houston Partnership. His address, and the subsequent panel discussion, focused on what’s working in Houston’s dynamic energy and manufacturing sectors and the critical role of innovation to ensure continued growth.

“The new Oil & Gas Training Center is a key part of our strategy to meet the growing global demand in drilling technology,” said Chuck Chauviere, general manager, drilling, GE Oil & Gas. “At GE, safety is a top priority and the continuing development of a safe, well-trained workforce is the key to the industry’s success. Through this investment, we are continuing our commitment to deliver world-class internal training programs and innovative solutions to meet our customer’s needs every day.”

GE’s Drilling Systems Technology Center employs more than 600 people and exports approximately 70 percent of the products manufactured on-site. The facility features an enclosed high bay area used to fully assemble, test and certify blowout preventer stacks before deployment and a test-and-design laboratory used for thermal, strength and endurance testing for GE’s drilling technologies.

The investment represents another milestone in GE’s 100+ year history in Houston. Today, GE has nine business units employing approximately 6,000 people in 30 locations across the Greater Houston area, helping to build, power, move and cure the world.

GE Economic Impact in Texas

GE works to bring together the best people and technology to help solve the world's toughest challenges. GE’s presence, operations and impact in Texas extends far beyond just the Greater Houston Area. A new study has quantified GE’s economic impact across the state, showing that the company directly and indirectly contributes $5.6 billion per year to the state’s economy; this translates to $15.3 million each day.

Commissioned by GE and conducted by independent consulting firm Tripp Umbach using 2010 data, the study shows that $1 out of every $230 in the Texas economy is supported, in part, by GE’s presence. In fact, GE helps support more than 25,900 jobs in Texas, both directly and indirectly. With more than 8,200 direct employees, for every one job, our work supports an additional 2.13 jobs in the state or one out of every 546.

The study also demonstrates GE as a vital member of the Texas community. GE employees have volunteered more than 23,000 hours to community service, and the company has overall contributed nearly $4 million to local non-profit and community organizations.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE Energy works connecting people and ideas everywhere to create advanced technologies for powering a cleaner, more productive world. With more than 100,000 employees in over 100 countries, our diverse portfolio of product and service solutions and deep industry expertise help our customers solve their challenges locally. We serve the energy sector with technologies in such areas as natural gas, oil, coal and nuclear energy; wind, solar, biogas and water processing; energy management; and grid modernization. We also offer integrated solutions to serve energy- and water-intensive industries such as mining, metals, marine, petrochemical, food & beverage and unconventional fuels.

Follow GE Energy on Twitter @GE_Energy.

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