Will GE Move Headquarters To Massachusetts?
General Electric, the huge conglomerate that traces its roots back to Thomas Edison and the 1890s, is currently based in Fairfield, Connecticut. But, the company is hunting for a new home — both for tax reasons, and because it wants to be better connected to “an ecosystem that is forward-looking and future-looking,” in the words of chief executive Jeff Immelt. GE’s decision is reportedly down to New York — either Manhattan or suburban Westchester County — and Boston’s waterfront innovation district.
David Luberoff, senior project adviser at the Boston Area Research Initiative at Harvard University’s Radcliffe Institute for Advanced Study. He’s also visiting professor at Northeastern University, which is launching an the Myra Kraft Open Classroom series focused on shaping Boston’s future, starting Wednesday. He tweets @dluberoff.
- “If multiple reports and sources saying GE is eying Boston and New York are true, then it’s all about that urban, tech image — not business taxes or any of the other cost issues we spent the summer and fall beating ourselves up over.”
- “The Tax Foundation, a Washington think tank, last month ranked Massachusetts 25th out of the 50 states, based on tax climates. Connecticut, as well as New York and Rhode Island — two other states under consideration by GE — all ranked in the bottom 10.”
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