GE Appliances’ 2016-2021 Economic Impact Report highlights company’s role as a growth engine for the U.S. economy
LOUISVILLE, Ky.--(BUSINESS WIRE)--GE Appliances (GEA), a Haier company, issued its 2016-2021 Economic Impact Report highlighting the company’s $20 billion contribution to the U.S. gross domestic product. The milestone was made possible by more than $2 billion in investments and the creation of 3,000 new jobs at the company’s manufacturing plants and headquarters since 2016.
“Over the last five years, we have invested more in the U.S. than any other appliance company and have grown our domestic supply base because we believe that being closer to our consumers and customers helps us know them and serve them better,” said Kevin Nolan, chief executive officer, GE Appliances. “The direct and ripple effects of those investments through the national and local economies where we have major operations are having a tremendous economic impact on our country, supporting more than 100,000 families here in the U.S.”
The report describes GEA’s expanding U.S. footprint and details the direct and positive impacts it has on the communities where it operates. The company has been building appliances for Americans for more than a century, and today one of every two U.S. homes uses a GEA product. With suppliers in all 50 states and 15,000 employees across the country, GEA’s nationwide presence remains an integral part of American commerce.
“No other industrial sector contributes to the U.S. economy as significantly as manufacturing,” said Jay Timmons, president and CEO of the National Association of Manufacturers and chairman of the board of The Manufacturing Institute. “For every $1.00 spent in manufacturing, another $2.79 is added to the economy. And, based on our research, we believe the manufacturing value chain—from transformation of raw materials to delivery of products to end-users—makes that impact even larger. Investments in U.S. manufacturing plants like those reported by GE Appliances drive economic growth across the country and especially in communities where investments are made.”
GEA has been a key player in helping American families take on and find enjoyment in life’s daily tasks as they spend more time at home. Kitchen and laundry products from factories in Kentucky, Tennessee, Alabama, Georgia and South Carolina, have bolstered GEA’s supply chain and enabled the company to reliability serve consumers across the country.
The total U.S. economic impact of GEA’s 2016-2021 activities was driven by:
- Three R&D centers, including two in Louisville, Kentucky where GEA employs 1,600 engineers
- A physical presence in 46 states with manufacturing, sales, distribution and support operations in Kentucky, Georgia, Alabama, Tennessee, and South Carolina
- More than $2 billion invested in innovation, modernized manufacturing plants and new distribution facilities
- $2.8 billion in purchases from 5,400 U.S. suppliers in all 50 states
- Over $2.1 billion generated in federal, state and local community taxes
About GE Appliances
At GE Appliances we make the world a better place, and our team is committed to leading in the communities where we live and work. Today, GE appliances are in 50 percent of all U.S. homes, and our business is committed to serving every family in the country. We are a purpose-rooted and passion-driven organization that believes there is always a better way. We sell products under the Monogram®, Café™, GE Profile™, GE®, Haier, and Hotpoint brands. Our products include refrigerators, freezers, cooking products, dishwashers, washers, dryers, air conditioners and water filtration systems. For more information, visit www.geappliancesco.com.
Julie Wood, GE Appliances, a Haier company
(502) 741-1557 or email@example.com