What do you get when you mix General Electric (GE), $1 billion and appliances? A whole lotta reshoring.
GE announced in 2010 plans to invest $1 billion to transform its U.S. appliance business. Since then, it has hired 3,000 employees at Louisville’s legendary Appliance Park — including 2,500 in 2012 alone — thanks to the opening of two new assembly lines.
Those were the first new lines open in 55 years, and they finally began producing high efficiency frontload washing machines and dryers back in April.
In all, GE has created more than 15,500 jobs in 20 different states since 2009.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned securities.