General Electric to Close Capacitor Factory in 2014
In late 2014, General Electric is expected to close its capacitor factory in Fort Edward, NY in favor of moving the operations to Clearwater, FL. The move is expected to result in the loss of up to 200 jobs in Fort Edward.
General Electric has made the decision to move the operations to Clearwater, FL based on cost reductions due to lower labor costs, energy costs, and taxes. Although there had been many changes made and proposed in Fort Edward, General Electric officially determined that the move to Clearwater, FL was necessary.
The Fort Edward capacitor factory is one of the factories that is associated with PCB’s discharged into the Hudson River and where the EPA is currently monitoring the Superfund site and the clean up the river bottom where dredging is expected to be completed by 2015.
Another General Electric capacitor factory in Hudson Falls, NY (also a contributor to the PCB’s in the Hudson) the Capacitor Products Division is expected to remain open.