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General Electric Investing $1 Billion In San Ramon Software Plant

SAN RAMON (CBS/AP) - General Electric has said it's investing $1 billion in a new software headquarters with plans to hire 400 software-related staffers to develop what it calls the "Industrial Internet."

The headquarters will be in leased space at the Bishop Ranch office complex in  San Ramon.

The Fairfield, Conn.-based industrial giant is hoping to attract technology experts who live in the East Bay, but may not like the long commute to the South Bay.

The new center will focus on innovating software that runs increasingly intelligent machines and equipment.

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