GE invests millions in Dayton corridor
May 1, 2012, 05:37 pm
GE Aviation recently announced it will continue to expand its presence in Dayton, Ohio, by investing $65 million in the city's Aerospace Corridor. As aviation groups continue to grow, pilots should stay focused on keeping the skies safe with pilot insurance.
In the past five years, GE Aviation has created 400 new jobs throughout its three Dayton plans, as well as launched the construction of a new research and development center at the University of Dayton. GE Aviation plans to continue to commit itself to the Dayton community with bolstered efforts by Ohio leaders to maintain Dayton as a test-flight hub for future aviation projects. With the growth in Dayton, GEO Aviation's headquarters remains in a suburb of Cincinnati, helping it maintain its strong presence in Ohio.
The GE Aviation research and development center aims to be the intellectual center of the company's electrical power business. The center has the potential to create 150 to 200 new researcher positions in the next five years, boosting the Ohio economy further. The center will position GE to pursue business for the creation of next generation planes, as GE aims to be a major player in the emerging technologies and markets. GE Aviation will provide electrical power and distribution for new aircrafts that are in development for government projects and contracts, and the research and development center will help enable GE to remain a leader in this industry.
Within the next 12 months, the Federal Aviation Administration plans to designate six sites across the country as future flight testing centers for emerging defense technology. Ohio is one of 22 states looking to be named one of the flight testing centers, and GE's investment in infrastructure and technology could help the state achieve this designation.
“This is an opportunity to establish an enduring relationship between the FAA, Wright-Patterson, NASA and Ohio aerospace," said Lorraine Bolsinger, president and CEO of GE Aviation Systems. "Let’s make sure Ohio is part of the next exciting chapter in aviation history.”
In addition, Saker Aviation Services recently announced it is also expanding its market reach. The aviation group plans to generate growth through merger/acquisition activity by partnering with a financial services firm.
"The leadership team at Saker Aviation understands that properly executed acquisitions can be a valuable component of an overall growth strategy," said Joseph Contaldo, managing director, Corporate Finance Associates. "Matching Saker's experience with our expertise and exposure to the aviation industry can yield positive results. We are pleased to work with Mr. Ricciardi and his management team in identifying and engaging prospective targets of acquisition."
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