2009-11-20 13:13:06 -

Ontario, Canada is helping GE Canada improve the design, production and process capabilities at its Peterborough-based motor production facility.

Building on a Memorandum of Understanding (MOU) signed by Ontario and GE in September, 2009, the province is investing $15 million over five years, while GE Motors is planning to invest up to $100 million over five years, to strengthen its Peterborough

facility’s position as a global centre of excellence that will pursue new green technologies for Canadian and international customers.

The project will create or help retain 100 jobs, increase capacity for anticipated market growth and reduce the facility’s carbon footprint.

The investment comes from the Next Generation of Jobs Fund, a $1.15 billion business incentive program. Partnering with businesses is a key component of the Ontario government’s five-point plan to grow the economy.

“Having recently signed a MOU with General Electric Canada, this announcement provides further proof that GE is strengthening its presence in Ontario. By forging partnerships with global giants like GE, we’re creating high-value jobs, attracting new investment to the Peterborough area and helping Ontario reduce its carbon footprint,” said Sandra Pupatello, Minister of Economic Development and Trade.

“Investments in new technology are essential to remain competitive. With support from the Ontario government, GE Motors is enhancing its capabilities, increasing its productivity and developing new products for global markets,” said Elyse Allan, President and CEO, General Electric Canada.



QUICK FACTS

- GE Canada has $11.3 billion in assets and employs 5,200 people in Ontario.


- GE Canada has had a presence in Peterborough since 1891 and employs approximately 1,000 people in the facility including management, engineers and skilled labour.

BlissPRRebecca Neufeld, 718-725-7357Account Executive rebecca@blisspr.com : mailto:rebecca@blisspr.com orMinistry
of Economic Development and TradeRay Lancashire, 416-326-1608Media
Relations, Invest Ontario ray.lancashire@ontario.ca : mailto:ray.lancashire@ontario.ca