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What you need to know for 04/23/2017

GE to invest $20M, open new plant in Puerto Rico

GE to invest $20M, open new plant in Puerto Rico

General Electric plans to open an estimated $20 million plant along Puerto Rico's north coast while

SAN JUAN, Puerto Rico — General Electric plans to open an estimated $20 million plant along Puerto Rico's north coast while closing two other plants in the U.S. territory.

Puerto Rico's Industrial Development Company says construction will begin this year on the facility to produce molded case circuit breakers. The plant is expected to start operating in mid-2015.

The company said Friday it will phase out operations at its plants in San German and Vega Baja by the end of 2015.

Information on how the changes would affect jobs was not announced.

The U.S. territory of 3.67 million people is seeking to create more jobs and expand its manufacturing sector as it struggles to emerge from a nearly decade-long economic slump. Its 13.1 percent unemployment rate is far greater than that of any U.S. state.

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