General Electric is planning to move 500 jobs overseas, citing the Export-Import Bank expiration.
The jobs will be moving to France, Hungary and China. Four hundred jobs will move to France, and the remaining 100 split between China and Hungary.
The jobs will be coming from Texas, South Carolina, Maine, and New York.
GE has $11 billion in projects it’s currently bidding on and needs export financing from an ECA (Export Credit Agency).