January 14, 2016
General Electric Co. is moving its global headquarters to Boston, from Fairfield, CT and New York City, where the company says there’s a “more pro-business environment.” By 2018, the 124-year-old manufacturer of aircraft engines, locomotives, power turbines and household appliances plans to permanently settle about 800 workers in Boston’s Seaport district.
GE says that the 55 colleges and universities, massive research and development spending, and tech-fluent workforce in the greater Boston area fosters an environment aligned with its digital-industrial activities.
Sources say the state of Massachusetts will provide up to $120 million in grants and incentives, while Boston will offer property tax savings of up to $25 million. GE can also tap into workforce training grants and programs that promote collaboration with research institutions and universities.