Public companies don't invest money to create jobs. They invest money to make money, which requires skilled workers to make it happen and ends up injecting money into the local economy and has beneficial effects on the entire ecosystem.
You also have to remember that those 1,300 jobs are only the jobs that are for full-time workers at GE. Lots of other contractors and consults end up getting work out of the reinvestment. The manufacturing business is also far more automated than it used to be, so much of the investment is also in equipment, systems, software, etc. So that money goes to companies that are making hi-tech products to help GE be more efficient (and the people at those companies are highly-paid specialized workers). The economics are lot more complex (and favorable) when you look at the whole picture.
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