Business Professor Sees GE Deal As Milestone For New Orleans

Feb 20, 2012

New Orleans officials are trumpeting a new business deal with General Electric as a “game-changer” for the city's economy. It’s seen by some as a pivotal shift away from the traditional tourism economy.

The financial division of GE is opening a technology center in New Orleans that will create 300 jobs with salaries from $60,000 to $100,000 a year. Tulane University business professor Peter Ricchiuti says the deal means the city can develop business in the technology industry as opposed to low-paying tourism jobs and those in the oil and gas industry.

“Getting GE’s facility here is kind of validating that trend and the fact that we have the workforce to make this kind of big switch in the economic make-up of the region.”   

GE says the technology center should open in 2015.