General Electric to move Maine jobs overseas | News

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General Electric to move Maine jobs overseas


BANGOR, Maine (NEWS CENTER) -- General Electric Co. has announced that it's moving 500 jobs overseas, and 80 of those jobs will be moved from the Bangor facility right here in Maine. 

 General Electric may move these jobs overseas because Congress did not renew a government program that allows foreign companies to borrow money to buy U.S. products. 

Authorization for the U.S. Export Import Bank was not approved by Congress, causing it to stop lending on July 1. Foreign companies use the agency to buy expensive U.S. products when bank loans are not possible.

The Bangor facility produces parts for power turbines, and those jobs will be moved to France according to a press release on the GE website. 

Maine’s Second District Congressman, Bruce Poliquin, released a statement Tuesday saying, “I will do anything and everything possible to gain and secure jobs," in regards to the recent job loss in Maine. “It’s disappointing that a big Wall Street corporation, like GE, would use politically charged language as a cover to shipping jobs overseas." 

Contributing information from Associated Press.