400 Jobs General Electric Threatened to Ship Overseas Do Not Exist

GE said lack of Ex-Im funds would prompt company to move jobs outside U.S.

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September 16, 2015

Some of the jobs General Electric said it would ship overseas due to lack of Export-Import Bank funds do not exist, according to the Washington Post.

"On Tuesday, GE said that with the fate of Ex-Im in flux it has reached an agreement with France’s export credit agency, Compagnie Francaise d’Assurance pour le Commerce Exterier (Coface), that could result in the company moving 400 jobs from South Carolina, Maine and New York to France," states the Washington Post. "Those 400 jobs do not currently exist, but that is the number of jobs GE would create in France if it wins pending deals that Coface has agreed to help finance."

"It’s disappointing that General Electric would attempt to bully taxpayers into giving them more corporate welfare," said James Davis, spokesman of Freedom Partners, which reported the GE announcement. "Using a lack of subsidies to threaten American workers and lawmakers is about as desperate and cynical as it gets—not to mention 400 of these jobs don’t even exist."

GE’s Tuesday announcement pleaded with Congress to reauthorize the bank.

"We call on Congress to Ex-Im," stated John Rice, vice chairman of GE. "The truth is that Ex-Im supports thousands of U.S. jobs and has returned $7 billion to the U.S. Treasury over the last 20 years – a rare government program that supports the economy while cutting the deficit."

Published under: Ex-Im Bank