GE COMMITS $50M
TO EMPOWER BOSTON’S STUDENTS, BUILD CAPABILITIES & CAREERS, AND IMPROVE
HEALTH
· GE will invest $25M
in Boston Public Schools, including the development of GE Brilliant Career Labs
· $10M will be donated
to building a diverse workforce population in STEM and health care fields in
Boston and surrounding areas
· $15M devoted to
expanding capacity at community health centers and increasing training for
specialty care
· Economic study shows
HQ relocation will also add 4,000 temporary and permanent jobs across the
Boston region
· 800 GE employees to
expand GE Volunteer network and contribute an additional $1 million in
charitable contributions annually
BOSTON – April 4, 2016 – GE announced
$50 million in philanthropic commitments, to be donated over the next five
years to the Boston community. GE’s commitment includes $25 million to Boston
Public Schools, $10 million to building out a diverse workforce population and
$15 million to developing the next generation health care workforce and
increasing training for specialty care. The donation is from the GE Foundation,
the company’s philanthropic arm.
“Together GE and Boston will lead the
digital transformation of industry. To build a global digital company and
community, we must invest to further educate our children in science and math
and improve health care in underserved communities. GE’s investments will
create thousands of new jobs and support Boston’s regional and economic
activities,” said GE Chairman and CEO Jeff Immelt.
GE’s philanthropic commitments include:
· Boston Public
Schools (BPS): GE will reach 100 percent of Boston Public Schools high
school students each year through our career labs, computer science courses,
and high school design experience to prepare tomorrow’s workforce, by
committing $25 million. The donation will provide students the opportunity to
explore college and career possibilities, and to understand the skills
necessary for future employment. GE will also create “GE Brilliant Career
Labs” with both physical and virtual locations to allow students a unique
hands-on experience with advanced manufacturing technology and software to
assist them through career planning and internships. GE will also assist 100
percent of STEM high school teachers, to better prepare students for college
and their future careers
· Boston Community
Health Centers (CHC): GE will commit an additional $15 million to developing, and
expanding the skills of health care providers at critical Community Health
Centers in underserved communities. This will include training in the use of
technology, leadership skills, and increased access to specialty care, in order
to deliver better treatment for common, complex medical conditions like
cardiovascular disease and addiction. The Developing Health Boston program will
initially support 22 Boston area CHCs and will provide skills training to more
than 75 percent of CHC leaders, health care providers, and staff. As well, GE
Foundation partners will help to develop next generation health care workers.
· Building the
Diversity Pipeline: GE has also pledged $10 million to increase the
capabilities and outcomes for our diverse students. GE will leverage its
employees and leaders to provide training, access to manufacturing labs at GE
Garages, and externships for underserved populations outside of the Boston
Metro area, including Lynn and Fall River.
GE announced in January it selected
Boston for its corporate headquarters. The new site, located in Boston’s
Seaport District, will be home to 800 GE employees; 200 from corporate
leadership and 600 digital industrial product managers, designers and developers
split between GE Digital, Current, robotics and Life Sciences. A GE Digital
Foundry will be created for co-creation, incubation and product development
with customers, startups and partners – and GE will invest in Boston’s
Industrial Internet ecosystem. The remainder of administration will be placed
in shared service operations throughout the Company.
GE already has a significant existing
presence in Massachusetts, with nearly 5,000 employees across the state in
businesses including Aviation, Oil & Gas and Energy Management. In 2014, GE
moved its Life Sciences headquarters to Marlborough, and in 2015 GE announced
its energy services start-up, Current, would also be headquartered in Boston.
According to an economic impact study
conducted by Oxford Analytic, GE’s move adds 4,000 new jobs in the Boston area,
between temporary construction jobs and permanent GE employees and vendors;
$776 million in new real estate demand; $260 million in new income (GE salary
and indirect); and $28 million to local vendors.
Employees will move to a temporary
location in Boston starting in the summer of 2016, with a full move completed
in several steps by 2018.
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