Fairfield industrial conglomerate General Electric Co. says it will invest $70 million to expand its advanced sodium battery plant in downtown Schenectady, N.Y., The Associated Press reports.
GE CEO Jeffrey Immelt is scheduled to tour the plant Tuesday and discuss the expansion, which will double production and add 100 new jobs. The plant will employ 450 workers when it’s up to full capacity in 2015.
Officials say the new plant will serve as a catalyst for economic development. It is expected to produce a million batteries this year. The sodium batteries will be used in GE’s hybrid locomotive, heavy service vehicles and backup storage.
Schenectady County contributed $5 million in assistance and tax breaks. GE also got $25 million in federal tax credits and $15 million in incentives from the state for the plant.
