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Business

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GE to locate global center near Ohio River

CINCINNATI – General Electric Co.’s new U.S. global operations center will be in Cincinnati, along the Ohio River.

GE announced Monday that the center will be at The Banks development, which includes residential and entertainment sites between stadiums used by the Cincinnati Reds baseball team and Bengals football team.

In April, the Fairfield, Connecticut-based company announced plans for the center with 1,400 new jobs for Ohio. It had been deciding among possible Cincinnati-area locations. Officials describe the new jobs as well-paid, professional positions.

GE says the center should be fully operational by 2017, ultimately employing up to 2,000.

All terms weren’t disclosed, but reports have indicated GE is receiving lucrative tax credits, property tax abatements and other incentives from state and local officials.

GE employs about 307,000 globally, with 15,000 in Ohio.

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