General Electric chooses Boston for headquarters
January 13, 2016
Mayor Martin J. Walsh and Governor Charlie Baker today celebrated General Electric's decision to relocate their world headquarters to Boston to take advantage of Boston and the Commonwealth's innovative and competitive economy and access to human capital and world-class educational institutions.
General Electric will bring approximately 800 high-paying jobs to Boston with this move.
"General Electric's choice to move to Boston is the result of the city's willingness and excitement to work creatively and collaboratively to bring positive activity to our local economy and continue to grow our industries," said Mayor Walsh. "Boston is delighted and honored to welcome General Electric and its employees to our community and we are confident that this is the start of a strong partnership."
"Our administration welcomes General Electric's decision to take advantage of the unique resources that our state has to offer, ranging from our innovative economy to top universities," said Governor Baker. "In addition to adding hundreds of high-paying jobs to our state, we look forward to partnering with GE to achieve further growth across a spectrum of industries and are confident GE will flourish in the Commonwealth's inventive economy."
Bringing General Electric's operations to the Seaport District will cement the company as an anchor in the city's innovation industry. The Commonwealth offered incentives up to $120 million through grants and other programs and up to $25 million was offered from the city of Boston in property tax relief. Additional incentives offered to General Electric include:
- $1 million in grants for workforce training;
- Up to $5 million for an innovation center to forge connections between GE and innovators from Massachusetts research institutions and the higher education community;
- Commitment to existing local transportation improvements in the Seaport District;
- Appointment of a joint relocation team to ease the transition for employees moving to Boston; and,
- Assistance for eligible employees looking to buy homes in Boston.