ERIE, Pa.--(BUSINESS WIRE)--GE Transportation supports one in 11 jobs in Erie County, an economic impact study released today states. Erie’s largest employer commissioned Pittsburgh-based research firm Tripp Umbach in 2010 to compile the 20-page report “Powering Pennsylvania: GE Transportation’s Impact on the Economy and Community-at-Large in Northwestern Pennsylvania.”
GE Transportation’s operations have a total economic impact of more than $2.7 billion on Erie County and of $4.6 billion on all of Pennsylvania, the report states.
“One dollar in every $130 in the state’s economy is generated by GE Transportation, making it one of the largest industrial companies in the Commonwealth,” said Paul Umbach, President & CEO and Co-founder of independent research firm Tripp Umbach. “GE Transportation’s annual economic impact on the Commonwealth of Pennsylvania is larger than all Pennsylvania-based professional sports teams ($1.37 billion) and the state’s mining, oil and gas extraction industries ($1.79 billion) combined.”
Lorenzo Simonelli, President and CEO of GE Transportation, commented: “This report puts the numbers behind what we know as a community, that GE Transportation is a vital part of Northwestern Pennsylvania, and that the community counts on our leadership. We stay committed to both Erie and the region as we grow our business right here.”
Barbara Chaffee, President and CEO of the Erie Regional Chamber and Growth Partnership, said: “The positive effect GE Transportation has on the Erie region is tremendous, it can’t be overstated. In terms of jobs, business activity with local companies, opportunities for young people, in terms of overall quality of life in the community, GE is a leader in every respect.”
GE Transportation has hired approximately 1,000 production workers in Erie since late 2010. The average wages among both comparable manufacturing companies in the Erie region and of GE Transportation’s main competitor in North America have been reported as about half of GE’s wages in Erie.
The report also highlighted GE’s ongoing commitment to corporate citizenship and charitable giving. The GE Foundation announced a $15 million, five-year Developing Futures grant to the Erie School District to advance math and science education in 2007. An additional $4 million grant made to the GO College program in March 2011 is helping local high school students to enter and succeed in college. The GE Foundation provided grants totaling $500,000 Community Health Net Centers in Erie in the same month. GE Transportation’s charitable giving to numerous local non-profits totaled $500,000 in 2010.
Tripp Umbach estimates the impact of the GE Transportation employees on the local area both through their financial donations and thousands of hours of volunteerism to be in excess of $19.6 million.
Jay Badams, Superintendent of the School District of the City of Erie said: “GE’s presence in the community makes a world of difference to our students. The Developing Futures program has enabled us to make a significant improvement in the level of math and science education in the district and makes our overall community more competitive in the long run. There’s no question that GE’s support has improved the education Erie students receive and their future opportunities.”
For an electronic copy of the study visit www.getransportation.com/community.
About GE Transportation
Established more than 100 years ago, GE Transportation, a unit of General Electric Company (NYSE: GE), is a global technology leader and supplier to the railroad, marine, drilling, mining and wind power industries. GE Transportation provides freight and passenger locomotives, signaling and communications systems, information technology solutions, marine engines, motorized drive systems for mining trucks and drills, high-quality replacement parts and value added services. GE Transportation is headquartered in Erie, Penn., and employs approximately 9,000 employees worldwide. For more information visit www.getransportation.com.
About Tripp Umbach
Founded in 1990, Tripp Umbach is a nationally recognized consulting firm that provides a comprehensive scope of services ranging from research and strategic planning to impact analyses for organizations, communities and corporations throughout the world. Headquartered in Pittsburgh with consulting offices throughout the United States, Tripp Umbach has completed thousands of assignments worldwide and provided the blueprint for its clients to leverage their assets and seize new opportunities. Their work has generated billions of dollars in economic impact. For more information visit www.TrippUmbach.com.