At a glance
- Louisiana offered an incentive package that includes a $300,000 performance-based grant for site and infrastructure improvements, and GE Vernova said it expects to participate in the state's Quality Jobs and Industrial Tax Exemption programs.
- The grant is less than 1% of the $34.5 million investment.
- For investors in GE Vernova, the added transformer capacity does not arrive until 2028, when the expansion is expected to reach full capacity.
GE Vernova said Tuesday it will spend $34.5 million to expand transformer manufacturing at its Shreveport, Louisiana, plant, according to Utility Dive.
Louisiana offered an incentive package that includes a $300,000 performance-based grant for site and infrastructure improvements, and GE Vernova said it expects to participate in the state's Quality Jobs and Industrial Tax Exemption programs. The grant is less than 1% of the $34.5 million investment.
The expansion is expected to increase the plant's workforce by nearly 30% and reach full capacity by 2028, the company said.
For investors in GE Vernova, the added transformer capacity does not arrive until 2028, when the expansion is expected to reach full capacity. The $34.5 million project is small next to the company's $9 billion agreement to buy Trench Group, as Private Wealth Daily previously reported. That deal is expected to close in late 2027.
Reported by the Energy Transition desk from Utility Dive and Private Wealth Daily archive. Published . Corrections