Shares of GE Aerospace (NYSE:GE) are trading higher on Wednesday.

The company revealed its intention to invest nearly $1 billion in its U.S. manufacturing facilities and supply chain to strengthen production capabilities, enhance engine safety, and integrate cutting-edge materials crucial for the future of aviation.

This commitment is almost double the amount pledged last year, signaling a major growth initiative. The investment will benefit more than 24 communities across 16 states, driving improvements in delivery and product quality.

The funds will be distributed across several projects, primarily aimed at increasing production capacity and implementing new technologies.

“We are committed to helping our customers modernize and expand their fleets while scaling technologies that will truly define the future of flight. Together, this will keep the United States at the forefront of aerospace leadership,” said H. Lawrence Culp, Jr, Chairman and CEO.

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The company is dedicating $500 million to enhance capacity and delivery at critical sites, which includes $113 million for upgrades in Greater Cincinnati and $70 million for hot section parts manufacturing in Muskegon, Michigan.

Additionally, GE Aerospace intends to allocate $200 million to military engine production at multiple locations, including Lynn, Massachusetts.

Over $100 million will go toward materials innovation, such as 3D printing and ceramic matrix composites, which promise enhanced engine power and durability.

The company plans investments in Auburn, Alabama, West Chester, Ohio, and Huntsville, Alabama, to increase capacity for producing these next-generation materials.

The company aims to recruit approximately 5,000 U.S. workers in 2025, filling positions in manufacturing and engineering. This follows the addition of more than 1,900 engineers and manufacturing workers in 2024.

Price Action: GE shares are trading higher by 1.04% at $193.71 at last check Wednesday.

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