Mayor Rahm Emanuel and GE Transportation President and CEO Lorenzo Simonelli announced today that the company has chosen Chicago as its global headquarters. The move will be effective in the coming months once the location for office space has been finalized.
“This is a banner day for the City of Chicago, and proof positive that our central location, business-friendly climate, and world-class talent will attract the best companies in the world,” said Mayor Emanuel. “GE Transportation is a top-level, worldwide company that will be using its Chicago headquarters as a central location from which to do business around the globe. This is a major win for the City of Chicago, its business community, and its residents, and is a harbinger of growth to come.”
“We have transformed GE Transportation from a North American rail company to a truly global transportation business,” said Simonelli. “Chicago allows us to more efficiently reach and serve customers around the world in the rail, mining and marine industries.”
Attracting corporate headquarters to Chicago is a key focus of the Emanuel administration, and is additionally one of the ten strategies highlighted by World Business Chicago in that organization’s comprehensive Plan for Economic Growth and Jobs, released earlier this year. The strategy is focused on leveraging Chicago’s core assets – ease of transportation, talent, business climate, and infrastructure – to attract companies to locate their headquarters in the City, creating jobs and additional economic growth.
GE Transportation will relocate about 50 people from Erie to Chicago. These employees are primarily associated with the company’s global support functions and its services operations. The company anticipates having a headquarters staff of approximately 150 in Chicago by 2014 as the business continues to grow. GE Transportation is currently evaluating several suitable office locations.
"Illinois is one of the most important rail and transportation hubs in the nation,” said Governor Quinn. “By choosing Chicago for its global headquarters, GE Transportation will be positioned to compete fiercely in the U.S. and all over the world to grow in the rail, mining and marine industries. We are pleased to welcome members of GE Transportation's leadership team to Illinois and Chicago."
Erie, Pennsylvania will remain the headquarters for GE Transportation’s locomotive business and key manufacturing site.
GE Transportation, a unit of GE (NYSE: GE), solves the world’s toughest transportation challenges. GE Transportation builds equipment that moves the rail, mining and marine industries. Our fuel-efficient and lower-emissions freight and passenger locomotives, diesel engines for rail, marine and stationary power applications, signalling and software solutions, drive systems for mining trucks, and value-added services help customers grow. GE Transportation employs approximately 12,000 employees worldwide. For more information visit the company's website at www.getransportation.com.
Since he took office, Mayor Emanuel has made jobs announcements involving 22 companies, totaling approximately 15,000 jobs. This is the fourth transportation-focused company the Mayor has announced jobs with, joining Coyote Logistics, United Airlines, and Ford Motor Company.