GE investing $1B in Silicon Valley software hub

SAN RAMON, Calif. (AP) ? General Electric says it’s investing $1 billion in a new software headquarters in Silicon Valley with plans to hire 400 software-related staffers to develop what it calls the “Industrial Internet.”

The headquarters will be in San Ramon, about a half-hour drive east of Oakland, in leased space at the Bishop Ranch office complex.

The Fairfield, Conn.-based industrial giant is hoping to attract technology experts who live in the so-called East Bay region of the greater San Francisco area, but may not like the long commute to the South Bay, which is home to leading technology companies such as Google Inc., Apple Inc. and Intel Corp.

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