GE to open technology center in New Orleans

GE to open technology center in New Orleans

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(Global Markets) - General Electric Co's (GE.N) financial services arm will open a new technology center in New Orleans, creating 300 jobs over three years, the largest U.S. conglomerate said on Friday.

The center, which will open in mid-2012, will focus on creating new software and processes for the GE Capital business, the company said.

GE chief executive Jeff Immelt said this week wage differences between the United States and other countries were narrowing and it saw an opportunity to bring jobs back to the United States. The company said it plans to hire some 5,000 military veterans over the next five years.

(Reporting By Nick Zieminski in New York; Editing by Gerald E. McCormick)