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Hudson River GE plant is latest loss in NY spiral
FORT EDWARD, N.Y. (AP) -- General Electric will close its capacitor plant in Fort Edward, N.Y., after seven decades and send operations to Florida to cut costs.
About 200 jobs will head south as soon as September. And this area south of the Adirondacks will suffer a loss in the long-running competition for the dwindling share of U.S. manufacturing jobs.
GE officials say the plant has been losing money for several years and they will move to an existing facility in Clearwater, Fla., where the company can take advantage of efficiencies of scale.
The loss of manufacturing jobs is a national trend, but New York has felt the sting more than some other states. Paul Blackley, an economics professor at Le Moyne College, said business costs and an older infrastructure likely play a role.