GE Vernova Inc., America’s leading energy manufacturing company, plans to invest nearly $600 million in its U.S. factories and facilities over the next two years to help meet the surging electricity demands worldwide.
The new investments – expected to create more than 1,500 new U.S. jobs – will help drive U.S. energy affordability, national security, and competitiveness, and enable the American manufacturing footprint needed to support expanding global exports.
As global energy demands are expected to double, our recent significant investments—the most substantial since our spinoff last April—aim to effectively address our customers’ surging needs, bolster domestic supply chains, and advance innovative American technologies that power the world.
“These investments demonstrate our steadfast commitment as the leading energy manufacturer in the United States to address both American and global energy demands,” stated Scott Strazik, CEO of GE Vernova. “With these strategic investments, we are not only helping our customers prepare for the increasing demand but also enhancing American innovation and technology development to strengthen our country’s energy security and competitiveness on the global stage.”
This wave of investments marks the initial phase of a broader $9 billion global capital expenditure and R&D plan set to unfold through 2028, as announced during the company’s Investor Update on December 10. GE Vernova currently employs over 18,000 individuals across 50 states, operates 18 manufacturing facilities in the U.S., and maintains its global headquarters in Massachusetts. The company’s technologies contribute to roughly 25 percent of the world’s energy and are utilized in more than 140 countries.
GE Vernova Company intends to enhance its gas turbine production capabilities:
To reinforce our previously announced commitment to delivering up to 80 heavy-duty gas turbines annually, which will contribute an additional 20GW of electricity worldwide, GE Vernova is set to invest nearly $300 million in our Gas Power division and expand our capacity for producing these turbines. This investment is expected to create over 850 new jobs and facilitate various new initiatives, including:
– In Greenville, SC, we plan to allocate more than $160 million to enhance our capacity, improve quality, and boost industrialization and delivery processes. This initiative will also introduce new testing capabilities utilizing hydrogen fuel, resulting in the creation of over 650 jobs.
– In Schenectady, NY, as previously detailed, GE Vernova is set to add more than 100 new positions by 2025 while investing over $50 million in our efforts towards capacity growth, sustainability, and industrialization.
– Additionally, we are planning a combined investment of nearly $50 million in our locations in Parsippany, NJ, and Bangor, ME, aimed at supporting capacity growth, quality enhancements, and industrialization and delivery initiatives.
GE Vernova intends to broaden its grid solutions division:
GE Vernova is set to invest nearly $20 million to boost its production capacity at the Grid Solutions facilities located in Charleroi, PA, and Clearwater, FL. The Charleroi site is known for manufacturing switchgear, while the Clearwater facility specializes in capacitors and instrument transformers.
This investment is projected to create over 260 new jobs across both locations. These enhancements are essential to meet the increasing demand for vital high-voltage grid equipment. A significant portion of the funds will be allocated to installing new assets that will expand capacity and enhance overall productivity.
Additional resources for the nuclear industry:
GE Vernova’s nuclear division, GE Hitachi, is set to invest over $50 million to boost safety, quality, and productivity at its Wilmington, NC factory. This investment will also support the launch of the next generation of nuclear fuel design, which is crucial for the company’s small modular reactor, the BWRX-300. Notably, the BWRX-300 is distinguished as the only advanced reactor design that utilizes an approved, existing fuel source. By enhancing its fuel manufacturing capabilities, GE Hitachi positions the BWRX-300 as the most deployment-ready advanced reactor currently available.
In addition to improving fuel production, this investment aims to increase automation at the plant, which has been a key player in fuel manufacturing since 1968. This facility supports a significant portion of the U.S. boiling water reactor fleet, gearing up for a future with rising global demand for nuclear energy, especially as several U.S. utilities look to restart retired plants.
Increased capacity for onshore wind manufacturing in the United States:
GE Vernova’s Wind segment is making significant strides in its commitment to renewable energy by planning to invest nearly $100 million in manufacturing facilities located in Pensacola, FL, Schenectady, NY, and Grand Forks, ND, as well as in remanufacturing facilities in Amarillo, TX. This strategic investment will enhance the U.S. supply chain for renewable energy through crucial factory upgrades, alongside investments in tools and fixtures. Additionally, we are excited to improve both customer and employee experiences with the introduction of a new experience center in Pensacola and renovations to our offices in Schenectady.
GE Vernova is enhancing its position as a premier research hub for energy innovation:
At GE Vernova‘s Advanced Research Center in Niskayuna, NY—a hub for cutting-edge energy technology—the company is set to invest close to $100 million in 2025. This strategic initiative is designed to boost efforts in electrification and carbon reduction, attract top-tier talent, and develop innovative technologies like direct air capture and alternative fuels for power generation, alongside advancements in energy grids and infrastructure security. Collaborating with New York Governor Kathy Hochul and Empire State Development, the State of New York is also stepping in with $9.6 million in tax credits to bolster this project.
This investment is expected to create 75 new research positions, along with an additional $15 million earmarked for Generative Artificial Intelligence (AI) initiatives in Niskayuna.
These recent allocations for U.S. facilities follow over $167 million invested in 2024 at various GE Vernova locations, leading to the creation of more than 1,120 jobs and reinforcing the U.S. commitment to maintaining leadership in energy technology.
