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General Electric,s resear center

Submitted by admin on Sunday, 28 June 2009No Comment

The U.S. has faltered as it has moved toward a service- and consumption-based economy, Immelt said. He singled out financial services, which he said comprise 45 percent of earnings of companies on the Standard & Poor’s 500 index, up from 10 percent a quarter-century earlier.Earlier Friday, Immelt announced GE is developing a $100 million research and development facility in Wayne County’s Van Buren Township, 25 miles west of Detroit. About 1,200 scientists and engineers initially will be hired to develop manufacturing technologies for GE’s renewable energy, aircraft engine, gas turbine and other products.The center, called the Advanced Manufacturing and Software Technology Center, will be about 25 miles outside Detroit in Van Buren Township. G.E.’s plan is to hire engineers and scientists in the region who have been put out of work by the shrinkage in the auto industry.The new center will add nearly 1,200 high-paying jobs — focused on developing advanced manufacturing technology as well as software — to Michigan’s struggling economy, and serve as GE’s information technology training hub .

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