Peterborough's Iconic GE Plant Is Closing Fall 2018

DEVELOPING STORY...

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GE, which has been a staple in Peterborough for 125 years, has just announced it will be closing its plant here in Fall 2018, resulting in the loss of about 350 jobs.

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Mayor Daryl Bennett just released this statement to the public...

"My immediate concern is for the workers and the families in our community affected by this winding down of General Electric’s operations in Peterborough. It will be a difficult time for many residents who are connected with GE or who have historical ties to this company. This year marked the 125th anniversary of GE in Canada, starting here in Peterborough in 1892.

The winding down of GE in Peterborough is a business decision that’s directly related to the slow down in orders from the oil and gas industry. It’s a drastic reversal from 2014 when GE announced that it would be adding up to 250 new jobs in Peterborough to build motors for the TransCanada Energy East pipeline, which has been delayed through the application process. Instead, GE has had to reduce the size of its workforce in Peterborough over the last several years. I understand it currently employs about 358 workers, well down from the 6,000 people employed by GE in Peterborough in the 1960s.

We are looking forward to the continued presence of BWXT Nuclear Energy Canada, which purchased GE’s nuclear energy business last year.

In the coming days, I will be requesting a meeting with both our MP and our MPP to discuss how our governments can assist with securing our community’s long-term economic foundation. Over the years, we have asked for assistance and approvals for employment land growth, the VIA Rail proposal for a new High Frequency Rail service through Peterborough, and local transportation network improvements needed to support growth. We need to continue to diversify our economy and to build the infrastructure that supports job creation."

UPDATE: Peterborough & the Kawarthas Economic Development President & CEO Rhonda Keenan has released the following statement...

“As General Electric announces the winding down of their operations in Peterborough, this is a challenging day for the community we serve. Peterborough & the Kawarthas Economic Development continues to work collaboratively with our region’s businesses and local stakeholders in order to diversify our economy, attract and retain talent and investment, and provide local businesses with the support and resources that they need to grow.

Our next steps are to work with our local partners and agencies in order to support GE Canada and their staff during this time of transition.

We look forward to the continued presence of BWXT Nuclear Energy Canada, and providing them with the support their business needs to thrive and grow in our community."

MP Maryam Monsef released this statement on her Facebook page...

This is a developing story. Check back for updates.

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