GE Vernova, Inc. is an energy equipment manufacturing and services company formed in 2024 as a spin-off of General Electric’s energy businesses. Today, it announced an $166 million investment to expand its current operations in Allegheny and Westmoreland counties. The investment will create at least 714 new jobs over the next four years in those two counties and will retain 735 existing, full-time positions across the Commonwealth. The company plans to install new industrial machinery and equipment at both facilities.

GE Vernova is receiving a $5 million grant through the Redevelopment Assistance Capital Program (RACP) and a $1 million WEDnetPA grant to train its workers. The company has also been encouraged to apply for the state’s Manufacturing Tax Credit (MTC) and Qualified Manufacturing Innovation & Reinvestment Deduction (QMIRD) programs which could provide additional tax savings.

GE Vernova, Inc. is a global energy equipment manufacturing and services company specializing in wind, hydroelectric, solar, and gas power generating facilities, alongside electrification software. Operating through divisions like Power and Grid Solutions, the company employs 85,000 people across 100 countries worldwide.

Matt Smith, Chief Growth Officer of the Allegheny Conference on Community Development – the organization that oversees regional economic development through its affiliate, the Pittsburgh Regional Alliance – offered this perspective on the news: