GE Capital Announces Technology Center In New Orleans

Today, Gov. Bobby Jindal and GE announced the creation of a major new corporate office in New Orleans with 300 new direct jobs in IT and software development. The GE Capital Technology Center, an IT Center of Excellence, will provide software development and IT support for the company’s financial services business.

The project will produce 300 new IT jobs with salaries ranging from $60,000 to $100,000, plus benefits, that will support GE Capital’s growth. Louisiana Economic Development (LED) estimates that the 300 new GE Capital positions in New Orleans will result in approximately 301 new indirect jobs, for a total of more than 600 direct and indirect jobs. By the end of 2015 when the Technology Center is fully staffed, its total payroll will be in excess of $28 million, excluding benefits.

For the announcement, Gov. Jindal was joined by New Orleans Mayor Mitch Landrieu, Louisiana Economic Development Secretary Stephen Moret and GNO Inc. President/CEO Michael Hecht at the IP Building.

Michael Hecht, CEO and GNO, Inc. addresses the audience at the IP Building in New Orleans, flanked by Governor Bobby Jindal, Mayor Mitch Landrieu and Senator David Vitter.

GE Senior Vice President and General Counsel Brackett Denniston said, “When selecting a location for a center of this importance, we considered many attractive options across the country. Louisiana rose to the top of our list because of the advantages it offers in terms of talent, infrastructure, location and environment. Gov. Jindal and the Louisiana delegation presented a compelling case for locating in Louisiana. We are proud to be bringing this state-of-the-art facility to one of America’s signature cities in a state committed to growth. We look forward to building on GE’s already strong presence in Louisiana with these high-wage, highly skilled jobs. This center will be an important resource for GE Capital and the New Orleans community.”

The state began cultivating IT-related economic development opportunities with GE in late 2010, and those efforts intensified in collaboration with local partners GNO Inc., the New Orleans Business Alliance and the New Orleans Mayor’s Office in 2011 as GE Capital was conducting a nationwide search for its new IT Center of Excellence.

Since Gov. Jindal and the Louisiana State Legislature enhanced Louisiana’s digital media incentive program in Summer 2009, Louisiana has had the second-fastest growing information sector in the country in both absolute and percentage job growth terms. The project extends a streak of significant digital media wins for Louisiana, including interactive entertainment sites for EA in Baton Rouge and Gameloft in New Orleans, along with corporate headquarters expansions by CenturyLink in Monroe and Schumacher Group in Lafayette.

“GE’s decision to place the GE Capital Technology Center in Greater New Orleans is enormously significant,” said Michael Hecht, GNO Inc. president and CEO. “It will create hundreds of high-paying jobs, bolster a growing new industry, and lend global credibility to our region as a premier destination for software development. But most of all, it is a validation of the broad partnerships at the city, region, state and even federal levels that have made this win possible.”