GE Transportation's economic impact

As you may know, General Electric has a large plant in Erie, PA that makes locomotives for freight and passenger railroads in the U.S. and worldwide, with suppliers in the surrounding hinterlands (including Ohio). Yesterday, GE issued a release highlighting the importance of GE Transportation to Pennsylvania's economy. There are links below to their release and the study they commissioned. If you have trouble with the links, I can send you pdfs of the release and/or report. The text immediately below this note is from the cover note that GE's Don Itzkoff sent to the OneRail Coalition yesterday (bolding is mine). KJP

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Key findings of the report are:

·         GE Transportation supports one in 11 jobs in Erie County.

·         Every GE job supports close to three additional jobs in Pennsylvania.

·         GE's total economic impact is $2.7 billion on Erie County and $4.6 billion on the entire state.

·         The company generates one dollar in every $130 in the state's economy.

·         GE employees' impact on the local area, both through their financial donations and thousands of hours of volunteerism, is estimated to be in excess of $19.6 million annually.

Put another way, GE Transportation's annual economic impact on 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.

The study highlights the importance of the rail sector to our economy, and how increasing investment in rail infrastructure and equipment generates jobs.

http://www.getransportation.com/about-us/community/

Community

In 2010 GE Transportation commissioned Tripp Umbach a Pittsburgh-based independent research firm, to conduct an economic impact study.  The report, "Powering Pennsylvania: GE Transportation's Impact on the Economy and Community-at-Large in Northwestern Pennsylvania," was released in April 2011.

Key findings of the report include:

· GE Transportation supports one in 11 jobs in Erie County.

· Every GE job supports close to three additional jobs in Pennsylvania.

· GE's total economic impact is $2.7 billion on Erie County and $4.6 billion on the entire state.

- The company generates one dollar in every $130 in the state's economy.

· GE employees' impact on the local area, both through their financial donations and thousands of hours of volunteerism, is estimated to be in excess of $19.6 million annually.

 Read the press release here GE Tripp Umbach Press Release.

 Read the entire report  here GE Tripp Umbach Study.

Ken Prendergast
Executive Director
All Aboard Ohio
12029 Clifton Blvd., Suite 505
Cleveland, OH 44107
(216) 288-4883
kenprendergast@allaboardohio.org
www.allaboardohio.org