GE could move 80 jobs from Bangor, Maine

GE stated the road of credit score will initially help potential orders in worldwide markets that embrace Indonesia.

The jobs will be coming from Texas, South Carolina, Maine, and New York. Jeff Duncan and Mick Mulvaney of South Carolina. As part of that $17 billion acquisition, GE has promised to add 1,000 new jobs in France, where the company already maintains a major power turbine production facility in the town of Belfort.

“Whether it’s achieved through a standalone bill or by attaching a reauthorization to another vehicle, we urge you to work with us to send a bill to the [resident’s desk and end this unnecessary shutdown”, Reps. But it faces opposition from some conservative Republicans and tea party groups. Moreover, Speaker, who represents some northwest suburbs of Cincinnati and who is essentially supportive of the Export-Import Financial institution, has not pressured an Ex-Im vote. It is supported by President Barack Obama, the U.S. Chamber of Commerce and mainstream factions in both parties. “The reality is, it looks like, based mostly on what GE has reported immediately, the Republicans are killing fairly a number of jobs on their very own”. It said it has reached agreement with the French export-credit agency to provide a line of credit for global power projects.

Boeing Chairman James McNerney Jr.in July called the decision to allow the bank’s charter to expire “a triumph of ideology over any description of pragmatism”. The Maine Republican has criticized corruption at the export credit agency but has not taken a position on reauthorization.

White House spokesman Josh Earnest blamed the GOP majority in Congress for GE’s determination. “The United States should not unilaterally disarm, yet that is exactly what we are doing”.

Bruce Poliquin, whose district is one of four that will lose jobs, released a statement criticizing the move. Without renewal, the bank is open only to manage existing credit and insurance business for foreign deals.

GE argues it needs access to that kind of financing to make its business building turbines used in power plants competitive.

The Export-Import Bank is the official credit export agency of the United States and it offers loans and loan guarantees to foreign buyers of U.S. goods.

Given the bitter fight in Congress over Exim’s future, Mr Rice said GE could not afford to wait and must make other long-term financing arrangements for large industrial projects.

Rice said GE has “done everything in our power to avoid making these moves at all, but Congress left us no choice when it failed to reauthorize the Ex-Im Bank this summer”.

The bank’s charter expired in July and it is unclear if Congress will renew it this year.

Katie Roberts Jackson, a GE Power & Water spokeswoman, declined comment about the job impacts on Greenville and each of the company’s other individual U.S. operations.

A GE worker in Houston works on an aeroderivative gas turbine. On… Conservative Republicans argue that the agency was a conduit for crony capitalism, benefiting big corporations such as GE and Boeing (NYSE:BA) on the taxpayer dime.

“This is not a political parlor game in Washington, D.C.”, he said.