GE bringing technology center, 300 jobs to N.O.

GE announced today it’s locating a new corporate office in New Orleans and creating 300 information technology and software development jobs that will pay average annual salaries ranging from $60,000 to $100,000. The GE Capital Technology Center will provide software development and IT support for the company’s financial services business. Louisiana Economic Development estimates the project will also result in approximately 301 new indirect jobs. By the end of 2015, when the Technology Center is fully staffed, its total payroll is expected to be in excess of $28 million, excluding benefits. To secure the project, LED developed a customized incentive package that includes a $10.7 million performance-based grant to reimburse certain relocation costs, recruitment, office refurbishment, lease expenses and office equipment. Additionally, LED is providing $500,000 per year for 10 years to fund enhanced software development-focused academic programs in New Orleans, to be provided by one or more Louisiana higher education institutions. Read more about today’s announcement on the LED website here.