Jacksonville, FL - September 26, 2014-GE (NYSE: GE) Oil & Gas, announced today plans to invest more than $50M in a new advanced manufacturing facility located in Jacksonville, Florida. The new facility will manufacture GE’s Mooney regulators and Becker control valves for the energy industry, among other oil and gas industry products. The facility is expected to open in November 2014 and will create at least 500 jobs over the next three years.

“The new GE Oil & Gas facility in Jacksonville will bring at least 500 jobs, giving even more Florida families the opportunity to live the American Dream,” said Gov. Rick Scott. “Last year we eliminated the sales tax on manufacturing equipment in order to build up manufacturing in our state, and now businesses like GE Oil & Gas can save money and be more competitive. Florida businesses have already created more than 640,000 private-sector jobs since December 2010, so let's keep working to provide even more opportunities for Florida families.”

GE chose to open a facility in Jacksonville to help meet the growing demand of its industrial technology solutions worldwide. The new facility will incorporate advanced manufacturing processing technologies to foster the innovation of oil and gas products. By optimizing the way products are made, GE Oil & Gas will be able to design, test and bring products to market faster for its customers with the upmost focus on quality and safety.

“We see advanced manufacturing as the next chapter in the industrial revolution. The new Jacksonville facility will use advanced manufacturing practices to fuel the future with new technologies that meet our customers’ needs faster, while bringing new job opportunities to Jacksonville,” said Chuck Nugent, Vice President of Manufacturing, GE Oil & Gas. “GE thanks Governor Scott, Mayor Brown and the economic development team for their hard work and their continued partnership, which made today possible.”

Local, city, state and federal officials joined Governor Scott, Mayor Brown and GE for the announcement on Friday, September 26, at the Jacksonville Chamber of Commerce.

“We’re excited that GE Oil & Gas has selected Jacksonville as the site for a major advanced manufacturing facility,” said Mayor Alvin Brown. “GE is a world-class company and a global leader in innovative manufacturing. We know GE will benefit from Jacksonville’s positive business climate, skilled workforce and position as a global transportation and logistics hub. In turn, the company will bring a wealth of opportunity to our local community.”

Learn more about job opportunities at GE Oil & Gas Jacksonville.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge-mcs.com.

About GE Oil & Gas

GE Oil & Gas works on the things that matter in the oil and gas industry. In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today's toughest challenges in order to fuel the future.

For more information, contact:

Lindsey Benton

GE Oil & Gas

T: +1 (832) 506 8974

E: lindsey.benton@ge.com

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