GE Appliances Releases Annual Report

July 05, 2023 at 11:27 AM EDT

Outlines progress through innovation, inclusivity, and infinite possibilities brought to life through company’s voice, action, brands and people

GE Appliances, a Haier company (GEA), unveiled its dynamic new GE Appliances Report showcasing the company’s economic impact, environmental, social and governance efforts, new products and its employees that are consistently making the world’s best appliances and helping the company achieve national rankings as one of the best places to work in the United States (U.S.). It also unveils business progress through the lens of innovation, inclusivity and infinite possibilities brought to life through the company’s voice, action, brands and people.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230705981921/en/

GE Appliances’ new report now online (Photo: GE Appliances, a Haier company)

“At GE Appliances, we're more than an appliances company,” said Kevin Nolan, president and CEO of GE Appliances, a Haier company. “We're industry trailblazers and community change-makers fueled by the passions of a world-class team that always looks for a better way. This report shares our story, and through it, we invite everyone to see how we're making a difference through investments that matter in the places where we live, work, and do business.”

Economic Development Highlights

In 2022, GE Appliances contributed $24.5 billion to the US Gross Domestic Product.
GE Appliances helped create 89,000 additional jobs in the US from 2016-2022.
Over the last five years, the company has invested $2 billion in its US operations helping to double the size of the business and hire 4,000 new associates.
GE Appliances spends $4.9 billion with 6,300 US suppliers - a 293% increase in spending and a 233% increase in the number of suppliers since 2016.

Corporate Citizenship Highlights

GE Appliances has already exceeded its goal of creating 10,000 US jobs by 2027. Between year-end 2020 and year-end 2022, an additional 14,700 jobs were added to the US economy as a result of the company’s hiring or operations.
In 2022, the company transitioned portable air conditioners to low global warming potential (GWP) refrigerants and stopped production of any air conditioners and dehumidifiers that did not contain low GWP refrigerants.
GE Appliances spent $82 million with diverse suppliers in 2022 on its way to spending $1 billion cumulatively with diverse suppliers by 2030.

Other Report Highlights

Innovation

The company is empowering its people to continuously ask “What if?” and to always look for a better way.

Voice - The first of its kind partnership in the country, GE Appliances partnered with Greater Louisville Inc. to help grow diverse-owned suppliers in its hometown.
Actions – GE Appliances engineers helped create the M100 water chlorinator for WaterStep more than a decade ago, the device has helped provide safe water to communities in need across 70+ countries—and now, its inventors have created an even more efficient model to provide cleaner drinking water even faster to more people.
Brands - The smartest mixer in the USA is disrupting the industry by making it possible for anyone to be an expert baker with cutting-edge technology that gives even beginning bakers the confidence to mix, whip, cream and emulsify to perfection pastries every time.
People – GE Appliances had adopted technology from the automotive industry to make the manufacturing process of its appliances even more reliable and efficient.

Inclusivity

GE Appliances is building a culture that reflects the diversity of its users, employees and communities.

Voice – GE Appliances receives perfect score on Human Rights Equality Index for five years in a row.
Actions - Orlando neighborhoods were brought to life with art that inspires creativity and community through a partnership with the Healing Walls Project.
Brands - As a leader in smart home innovation, GE Profile is innovating to meet the needs of older individuals, those living with a disability, and multigenerational households.
People – In partnership with Kentucky’s governor, GE Appliances is creating jobs and possibilities in manufacturing for students who may not have a plan for careers after high school.

Infinite Possibilities

One thing that sets the company apart from others is seeing the world through the lens of possibilities to create things that make life better at home in meaningful ways.

Voice - By supporting the ideas, aspirations and wellbeing of employees, GE Appliances has become recognized as an employer of choice for top, diverse talent globally and across the U.S.
Actions - From vacant property to community asset, now Smoketown Laundry customers can search for jobs or bring their children for tutoring while they are waiting for their loads to finish.
Brands - From Air Fry and Turkey and Steakhouse modes, GE Appliances’ over-the-air updates available on Wi-Fi enabled GE Profile™ and CAFÉ appliances are helping users take the guesswork out of cooking and update their appliances with new features just like they do their smartphones.
People - Through “The Blue Wave” initiative, employees committed to completing 20,000 hours of volunteering over one year with projects across its plant communities, 17 states, India and Korea.

To view the entire report, click here.

About GE Appliances

At GE Appliances, a Haier company, we come together to make "good things, for life." We're creators, thinkers and makers who believe that anything is possible and that there’s always a better way. We’re a company powered by our people, made stronger through our diversity — allowing us to grow closer than ever before to our owners, anticipate their needs and enhance their lives. We’re certified as a U.S. Great Place to Work ™, named one of the Best Companies for Multicultural Women by Seramount (formerly Working Mother Media), Achievers Top 50 Most Engaged Workplaces, received a perfect score for the fifth year in a row on the Human Rights Campaign’s Corporate Equality Index, and named one of the top 100 Internship Programs by Way Up.

Since 1907, we’ve built innovative, quality products that are trusted in half of all U.S. homes. We sell appliances under the Monogram®, Café™, GE Profile™, GE®, Haier and Hotpoint brands. Our products include refrigerators, freezers, cooking products, dishwashers, washers, dryers, wine & beverage centers, air conditioners, small appliances, water filtration systems and water heaters. To learn more about our company, our brands, our Corporate Citizenship efforts, our economic impact, and working for GE Appliances visit www.geappliancesco.com.

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