Upper Illinois River Valley Development Authority

Funded Project Profiles

Company: General Electric Company

Location: Ottawa

Amount of Bond: $3,600,000

Interest Rate: 3.8% floating

Jobs: 428 jobs

Type of Project: Environmental Facilities

Bond Issued: April 1998

Project Overview

GE Plastics undertook an expansion of their ABS Plastic manufacturing facility in Ottawa. They produce 90-100 million pounds of plastic per year. They replaced several extruders with a Mega-Extruder. The process extrudes melted latex plastic through dies and a water bath. The plastic is then cut into pellets. The equipment purchased included pellitizer, conveyors and a collection system. The project retained 428 jobs. GE Plastics is a wholly owned subsidiary of General Electric Company (GE). GE originally begun by Thomas Edison as the Edison Electric Light Company in 1878, they merged with Thompson Houston Electric Company and changed it name to its present form in 1892. It is one of the 30 companies in the Dow Jones Industrial Average. GE operates in more than 100 countries around the world including 250 manufacturing plants in 26 different nations. GE employs 239,000 people world wide including 155,000 in the US.

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Company:	General Electric Company
Location:	Ottawa
Amount of Bond:	$3,600,000
Interest Rate:	3.8% floating
Jobs:	428 jobs
Type of Project:	Environmental Facilities
Bond Issued:	April 1998
Project Overview
GE Plastics undertook an expansion of their ABS Plastic manufacturing facility in Ottawa. They produce 90-100 million pounds of plastic per year. They replaced several extruders with a Mega-Extruder. The process extrudes melted latex plastic through dies and a water bath. The plastic is then cut into pellets. The equipment purchased included pellitizer, conveyors and a collection system. The project retained 428 jobs. GE Plastics is a wholly owned subsidiary of General Electric Company (GE). GE originally begun by Thomas Edison as the Edison Electric Light Company in 1878, they merged with Thompson Houston Electric Company and changed it name to its present form in 1892. It is one of the 30 companies in the Dow Jones Industrial Average. GE operates in more than 100 countries around the world including 250 manufacturing plants in 26 different nations. GE employs 239,000 people world wide including 155,000 in the US.