GE Aerospace CEO Larry Culp: We plan to grow locally in Ohio
GE Aerospace CEO H. Lawrence Culp Jr. told the Business Courier the Evendale-headquartered jet engine manufacturer planned to grow after it becomes its own public company early next year.
“This is our home,” he said. “We’re going to grow the business. I can’t imagine we’re not growing here.”
His comment came after GE Aerospace announced plans to invest $335 million across its U.S. manufacturing footprint this year, including $32 million in Southwest Ohio, and hire 800, with plans to fill 300 positions locally.
GE Aerospace is set to become its own publicly traded company in 2024, following the spinoff of General Electric’s (NYSE: GE) energy businesses, GE Vernova, as its own public company early next year. GE Vernova will be headquartered in Cambridge. The Boston-based conglomerate spun off the Chicago-based GE HealthCare on Jan. 3.
GE Aerospace is Cincinnati’s third-largest manufacturer. It employs 9,000 in the Cincinnati region among its Evendale headquarters campus, a 6,000-acre test operations facility in Peebles, a global parts warehouse at the Cincinnati/Northern Kentucky International Airport and electrical power research site bordering the University of Dayton.