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General Electric

GE Moving Jobs To Canada, Blames U.S. Congress On Ex-Im Bank

WAUKESHA, Wis. — General Electric Power & Water said it will stop manufacturing gas engines in Wisconsin and move the work to Canada, meaning the loss of 350 jobs in a Milwaukee suburb, because the U.S. Congress has failed to reauthorize the Export-Import Bank. The plant in Waukesha, Wis., builds engines for power generation applications. GE said it plans to build a $265 million factory in Canada over the next 20 months, the Milwaukee Journal Sentinel reported. GE blames Congress for failing to reauthorize the bank, which finances sales of industrial equipment. "We believe in American manufacturing, but our customers in many cases require Export Credit Agencies financing...