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Welcome to the neighborhood: GE to set up shop just up the road from OIPA

December 09, 2013
TOPICS: In the news, OIPA
General Electric Co. has selected a site near downtown Oklahoma City for its planned $110 million global research center. The center will be about half a mile north of the Oklahoma Energy Education Foundation building, home of the Oklahoma Independent Petroleum Association and the Oklahoma Energy Resources Board.

“When Jeff Immelt and Gov. Fallin announced this facility at our Wildcatter Wednesday in April, we knew this was going to be a big deal for the Oklahoma oil and natural gas industry,” OIPA President Mike Terry said. “To see they’re going to be in such close proximity to OIPA, the state Capitol and downtown puts GE in position to have a dramatic positive impact on the state economy.”

The company announced Thursday that it’s selected a site at 10th Street and Walnut Avenue for its new 95,000-square-foot center, which will create 130 jobs.

“The new center’s close proximity to many of our customers and the state’s great university network and engineering talent will allow us to accelerate the development of new technologies,” said Michael Ming, general manager of the new center.

The Center will focus on accelerating mid- to later-stage oil and natural gas technologies developed in GE’s Global Research labs, including production systems, well construction, water use optimization, CO2 solutions and energy systems, with an emphasis on unconventional resources.

“Unconventional resources, and shale gas in particular, may be one of the biggest productivity drivers of our lifetime,” GE CEO Immelt said at the announcement in April.

GE operates seven other research centers in the U.S., India, China, Germany and Brazil that are the hub of technology development for all of GE's businesses.

“In April, we celebrated news of GE’s decision to invest and establish their Oil & Gas center in our great state,” Gov. Mary Fallin said a news release. “Today, we mark another milestone that shows how this vision is quickly becoming a reality. GE’s new Oil & Gas Technology Center will not only make a great addition to the Oklahoma City skyline, it will be a beacon for attracting international attention from oil and gas partners around the world who value GE’s technology excellence in the energy sector.”

The governor invested $3 million from a quick-action economic development closing fund to help lure GE's research center to Oklahoma.

“We are thrilled that GE has chosen to build its new Oil & Gas Technology Center here,” Oklahoma City Mayor Mick Cornett said. “We have worked hard to make the City a place where companies want to locate and grow their operations. ... GE’s technology presence will provide a major boost for our local economy.”

GE has said that Oklahoma's position at the center of the oil and gas marketplace was a major factor in the company's decision to locate the research center in the state.

Construction on the new center is set to begin next spring with an opening date planned for 2015.
 
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