EVENDALE, Ohio -- GE Aviation, The Ohio Department of Development (ODOD), and other community organizations are partnering to revitalize GE Aviation's global headquarters in Evendale. 

Details were unveiled today at the headquarters with officials from the State of Ohio (including Gov. Ted Strickland), Hamilton County, the village of Evendale, the University of Cincinnati and the Ohio Board of Regents. 

The multi-faceted project will greatly enhance GE Aviation's competitive position in Ohio while benefitting the area firms that it supports. The Evendale revitalization includes modernizing engine test and production facilities, razing inefficient buildings (some 60+ years old), and acquiring new equipment for long-term stability and growth. In reducing the complex's square footage by one million square feet over the next several years, GE can streamline its operations. 

"Today marks a new partnership between GE Aviation, Greater Cincinnati, and the state of Ohio," said David Joyce, president and CEO of GE Aviation. "Our goal is to transform our Evendale headquarters into a technology centerpiece for decades to come." 

The incentives plan involves:

• A GE investment of more than $100 million in capital improvements at the Evendale complex over the next several years.


• ODOD award to GE Aviation of a 15-year Job Retention Tax Credit valued at more than $100 million over the life of the agreement.


• A $1 million grant from the village of Evendale to launch the revitalization.


• Also, GE and the University of Cincinnati (UC) are actively discussing a possible UC research facility at GE. For decades, UC and GE have collaborated on numerous aerospace research projects, while thousands of GE personnel have graduated from the university, and thousands of UC co-op students have received on-the-job training at GE. However, current discussions are focused on a possible permanent and significant UC presence at or near the Evendale complex. 
  
  Near-term Evendale site projects include: 


• Environmental Conservation Projects: GE is reducing its environmental footprint with new ways to reduce CO2 output through modernized buildings and machinery that improve energy efficiency. GE will also look at ways to infuse technology into its aging water treatment facility.


• Metropolitan Watershed Analysis: GE is teamed with the Ohio Department of Transportation, Hamilton County Storm Water District, Metropolitan Sewer District, Mill Creek Council and several neighboring cities on a Watershed Pilot. This collaborative approach is focused on understanding the area's water flows to abate potential flooding and improve overall site quality.


• I-75 Aerospace Technology Corridor: In conjunction with the Department of Transportation's "Through the Valley" project, GE is highlighting its revitalization through its main entrance with a new sign wall and landscaping. Completion is targeted for yearend.


• The State of Ohio's Job Retention Tax Credit is the catalyst for the revitalization. The agreement requires GE to keep at least 5,000 jobs at Evendale and its adjoining operations for the next 18 years - which is well below the company's plans for a revitalized headquarters complex. "This commitment is aligned with our vision of renewing the site for the future of our business," said Joyce. 
  
  GE Aviation, the world's leading producer of jet engines, employs about 7,400 people in the southern Ohio and northern Kentucky region, with a payroll exceeding $600 million. In addition, GE Aviation is one of the state's leading exporters, reflecting the growing global nature of the company. More than 50 percent of GE Aviation's revenues are derived from international customers. 
  
  Today's announcement follows several commitments in recent years by GE Aviation, including: 


• The $90 million expansion since 2006 at GE Aviation's Peebles (Ohio) Test Operation, one of the world's most advanced jet engine test centers. GE Aviation is Adams County's largest employer.


• Establishing in 2008 the headquarters of GE Aviation Systems in Greater Cincinnati. This business was created through the 2007 acquisition of Smiths Aerospace, a U.K.-based supplier of avionics, electric power and mechanical systems for aircraft.


• Opening in 2004 the Brian H. Rowe Learning Centre in Evendale, the first new building at the company headquarters in decades.


• In addition, GE is a key contributor to Greater Cincinnati, providing more than $12 million and 200,000 annual volunteer hours for education initiatives, health and human services, and community development programs. GE's five-year, $20 million investment in Cincinnati Public Schools is focused on enhancing math and science education. 
  
  GE Aviation, an operating unit of General Electric Company (NYSE: GE), is a world-leading provider of commercial and military jet engines and components as well as avionics, electric power, and mechanical systems for aircraft. GE Aviation also has a global service network to support these offerings. 
  
  GE Aviation: A storied history in Evendale 
  
  GE Aviation's Evendale operation is set on 400 acres and comprises 10 major buildings. 
  
  In addition to global headquarter activities, Evendale is engaged in jet engine design and assembly, component manufacturing, and development engine assembly and test. The world's most popular commercial jet engine, the CFM56*, is assembled in Evendale. 
  
  The original Evendale buildings (yellow brick) were constructed during World War II and opened with a ribbon-cutting ceremony attended by Orville Wright as the Wright Aeronautical piston engine factory. The factory closed with the end of the war in 1945. Then, in 1948, GE's Gas Turbine Division in Lynn, Massachusetts (which developed America's first jet engine in 1942), took residence at the former Wright factory. 
  
  Over the next 60 years, GE Aviation's presence expanded dramatically at the site, which became the division's headquarters. During that span, many of the world's most significant jet engines and propulsion technology advances have been created here, including: 


• TF39 - world's first high bypass engine: Developed in the 1960s for the USAF C-5 "Galaxy," the TF39 changed jet propulsion forever. The world's first high bypass engine, whereby a large front fan pulls air through and around the engine, ushered in the new era of big fan engines, with their high thrust and fuel-efficiency. The TF39 design led to GE's famed CF6 family, which has powered commercial jumbo jets for four decades.


• GE90 - world's largest and most powerful jet engine: Developed in the 1990s, the GE90 family encompasses several technology firsts, including record thrust and the first successful application of composite fan blades, instead of titanium blades.


• GEnx - new era for composites in jet engines: Developed during this decade, the GEnx is the company's fastest-selling large engine in its history. It will provide new levels of operating efficiencies, using a composite fan case and blades, and a unique combustion systems for vastly lower emissions.


• The CFM56 is produced by CFM International, a joint company of GE and Snecma (SAFRAN Group).