BOSTON—General Electric CEO Jeffrey Immelt has apparently followed through on his threat to relocate the firm's global headquarters from Fairfield, CT to Boston.
Immelt launched a multi-state headquarters search in June of last year after bristling over well in excess of $1 billion in tax increases proposed by Connecticut Gov. Dannel Malloy and passed by the State Legislature to fill a funding gap.
A host of states have been courting GE to relocate headquarters operations, including New York, Texas, Georgia, Rhode Island and others. The company was considering sites in Manhattan as well as in Westchester County, NY.
Meanwhile Gov. Malloy had also been pressing the Fortune 500 company to remain in Connecticut. The company employs approximately 800 workers at its Fairfield, CT campus located at 3135 Easton Turnpike.
However, General Electric is reportedly set to announce that it will shift headquarters operations to an unspecified Boston location, according to a report in the Boston Globe. The newspaper states that the company is expected to make a formal announcement on Thursday and that it had notified Massachusetts Gov. Charlie Baker and Boston Mayor Martin Walsh's respective offices of its plans.
Both Baker and Walsh have collaborated on efforts to lure GE to Boston. Terms of the deal, including possible state and city incentives, were not available.
During a speech in November before the Business Council of Fairfield County in Stamford, CT, Immelt told business leaders that GE "will always have a big presence in Connecticut," according to published reports. The company has operations in Stamford, Norwalk, Bloomfield, Plainville and Windsor in addition to its Fairfield-based headquarters.
A representative of Mayor Walsh's office told Globest.com that it had no information concerning the GE move. A press spokesperson for Gov. Baker responded that all inquires regarding the relocation should be directed to GE, which had no comment on the press report when contacted by Globest.com.
Attempts to reach Connecticut Gov. Malloy for comment were unsuccessful at press time.
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