Massachusetts, Boston offered GE $145 mln in perks to move—governor
Reuters
35 minutes ago
FILE - This Jan. 16, 2014 file photo shows the General Electric (GE) logo at a store in Cranberry Township, Pa. General Electric on Tuesday, Oct. 13, 2015 announced it is selling three of its corporate lending and leasing units to Wells Fargo as the industrial conglomerate continues to shed its financial units to focus on its core. (AP Photo/Gene J. Puskar, File)
.Report: GE relocating headquarters to Boston
BOSTON, Jan 13 (Reuters) - The state of Massachusetts offered diversified manufacturer General Electric Co $120 million in grants and other financial incentives to persuade it to move to Boston, with the city kicking in another $25 million in tax relief, officials said on Wednesday.
City and state officials regard the move as the linchpin of an effort to redevelop the city's southern waterfront, which has transformed from acres of parking lots to a massive construction site with about a dozen office and apartment towers under construction.
"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," said Massachusetts Governor Charlie Baker.