GE Global Operations Center Opens at The Banks

The company’s relocation is expected to deliver $1 billion in annual economic impact.

By Anca Gagiuc, Associate Editor

GE Banks -- NE Elevation
GE Banks – NE Elevation

CincinnatiGE Global Operations Center has started moving into downtown Cincinnati’s new mixed-use development dubbed The Banks. The 338,000-square-foot contemporary glass building will be home to more than 2,000 professionals across 12 stories.

“The GE Global Operations Center is an incredible milestone for The Banks and for Cincinnati,” said Dan McCarthy, project executive for Carter, master developer of The Banks, in a prepared statement.

“We’ve always envisioned The Banks with a vibrant mix of retail, restaurants, residential, hotel and office. Bringing GE to the riverfront makes that vision a reality and helps extend Cincinnati’s downtown business district directly to our greatest physical asset, the Ohio River. Add GE’s workforce to the thriving residential communities of Radius and Current, and The Banks becomes a true live-work-play destination,” McCarthy explained.

The new building is located within Phase II of The Banks, and includes 19,000 square feet of street-level retail space. GE has signed a 15-year lease at the site with Carter and Nicol Investment Co., co-owners of the building. PNC Financial Services led the construction financing for the project, while Brasfield & Gorrie oversaw the construction project, working with local developer Jostin Construction. RJTR acted as the architect and CBRE will manage the property.

The University of Cincinnati Economic Center estimates that the potential annual impact of the GE Global Operations Center could reach $1 billion, taking into account the direct and indirect employment and spending GE’s new-to-market jobs are expected to create. The payrolls are anticipated to average an annual salary of $79,000 and include a variety of functions such as accounting, finance, communications, customs, HR, IT, legal, logistics, supply chain and enterprise data management.

Image courtesy of GE