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GENERAL ELECTRIC COMPANY

(GE)
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General Electric : GE Invests $5 Million in the Next Generation of Cincinnati Engineers; 'Next Engineers' program aims to increase the diversity of young people in engineering and reach 3,500 local students

10/15/2021 | 11:11am EDT

BOSTON, Mass. & CINCINNATI, Ohio - GE has announced a five-year, $5 million investment in Cincinnati to launch Next Engineers, a global-college readiness program focused on increasing the diversity of young people in engineering.

GE has selected Cincinnati as one of four inaugural locations, aiming to inspire more than 3,500 local students ages 13 to 18, provide first-hand experiences of engineering, and award financial support to pursue further education in engineering.

In April 2021, GE Foundation announced the $100 million program with the goal of reaching more than 85,000 students in approximately 25 cities globally over the next decade. GE will work directly with the University of Cincinnati to implement Next Engineers locally.

'It is an absolute thrill to welcome the Next Engineers program to the Cincinnati community,' said Joe Allen, Chief Diversity Officer at GE Aviation. 'With the help of our great, long-standing partners at the University of Cincinnati and our talented employees here at GE, I'm confident this program will be transformational for young people in our community.'

'Our faculty, staff and students are energized about the GE Next Engineers program,' said University of Cincinnati President Neville Pinto. 'They are excited to welcome young and diverse students to our campus and assure that their time at UC leaves them engaged, amazed and inspired by the fascinating and fulfilling field of engineering. By aligning programs and services to ensure readiness, create access and foster success, we can achieve educational transformation and positively impact the future of our region and society.'

'Engineers are critical to building a world that works, but diverse populations are woefully underrepresented in the field,' said Linda Boff, President, GE Foundation and Vice President, Chief Marketing Officer of GE. 'GE employs thousands of engineers around the globe and we're committed to providing the resources that will inspire the next generation of engineers and innovators wherever their careers take them.'

'Underrepresented groups have the talent but continuously lack the access to opportunity,' said Whitney Gaskins, Assistant Dean of Inclusive Excellence and Community Engagement for UC's College of Engineering and Applied Science. 'The GE Next Engineers program will help us connect and provide the necessary access. We are thrilled to have an opportunity to continue our outreach initiatives that will undoubtedly have a profound impact in the Cincinnati community.'

Next Engineers offers three inspiring programs to engage students on their paths to engineering studies. Starting today, students can begin applying for the third program - Engineering Academy - at www.nextengineers.org:

Engineering Discovery for students ages 13-14 (eighth grade) and their guardians with the goal of increasing awareness through multiple, short, one-hour exploratory experiences and hand-on activities connecting students to real engineers. Sessions are delivered by volunteers in the classroom or in the community to inspire youth early and highlight the broad array of engineering careers;

Engineering Camp for students ages 14-15 (rising ninth grade) with the goal of developing engineering identities through a week-long immersive camp experience over school break where students interact with experienced engineering faculty and staff, complete design challenges solving real-world problems and interact directly with professional engineers and business leaders

Engineering Academy for students ages 15-18 (grades nine to 12) with the goal of guiding and encouraging students to pursue engineering degrees. Engineering Academy is a three-year college readiness program for upper secondary students that helps them learn to think and act like engineers and prepare them to select and succeed at an engineering major at the university level. The program provides 80 hours per year of out-of-school programming. The program will include longer challenges and a capstone project, career coaching to expose students to different engineering pathways, and college-readiness workshops. Students accepted to higher education engineering programs will also receive a scholarship from the GE Foundation.

About the GE Foundation

The GE Foundation, an independent charitable organization funded by GE, is committed to transforming our communities and shaping the diverse workforce of tomorrow by leveraging the power of GE. Through Next Engineers, we are increasing the diversity of young people in engineering. In our hometown of Boston, we are working to improve workforce diversity, attack the opioid crisis, and drive STEM education in public schools. We are also inspiring others to act by connecting GE people with communities through our Matching Gifts Program and Disaster Relief. The GE STAR awards provide financial support to children of eligible children of GE employees for their achievements. Learn more at www.gefoundation.com or follow the us on Twitter at @GE_Foundation.

About GE

GE (NYSE:GE) drives the world forward by tackling its biggest challenges. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse, and dedicated, operating with the highest integrity and passion to fulfill GE's mission and deliver for our customers. www.ge.com

About the University of Cincinnati

The University of Cincinnati offers students a balance of educational excellence and real-world experience. UC is a public research university with an enrollment of more than 46,000 students and has been named 'Among the top tier of the Best National Universities,' according to U.S. News & World Report. Today, more than 300,000 living alumni count themselves as Bearcats - united not just by their loyalty to our nationally known sports teams, but by their common love of the place, the people and the ideas that make up the University of Cincinnati.

Contact

William 'Cole' Massie

Manager, Media Relations

GE Aviation

+1 513 288 4489

William.massie@ge.com

Jeff Caywood

Director, Sustainability and Headquarters Communications

GE

+1 857 337 4101

jeff.caywood@ge.com

Michael Miller

Public Information Officer

University of Cincinnati

+1 513 556 6757

mille7m9@ucmail.uc.edu

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 76 439 M - -
Net income 2021 1 102 M - -
Net Debt 2021 13 076 M - -
P/E ratio 2021 238x
Yield 2021 0,31%
Capitalization 115 B 115 B -
EV / Sales 2021 1,67x
EV / Sales 2022 1,58x
Nbr of Employees 174 000
Free-Float 74,4%
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Number of Analysts 20
Last Close Price 104,41 $
Average target price 116,51 $
Spread / Average Target 11,6%
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Managers and Directors
H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
Nancy Anderson Chief Information Officer & Vice President
James S. Tisch Independent Director
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