Economics
GE Said to Invest $760 Million in Italian Research Centers
- Plan shows dividends for Renzi's push to lure outsiders
- Apple, Cisco already announced deals for Italy this month
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General Electric Co. plans to sign agreements to invest more than 700 million euros ($760 million) in research and development facilities in Italy, according to four people familiar with the company’s intentions.
The deals may be inked as soon as this weekend or early next week when GE Chairman Jeff Immelt visits the country, the people said. GE will spend more than 500 million euros on a center in Tuscany that will develop new gas turbines, and another 200 million euros on plants that will look at innovation for manufacturing processes, the people said, asking not to be identified because the plans haven’t been made public yet.