General Electric Chooses Boston for World Headquarters
BOSTON – Governor Charlie Baker and Mayor Martin J. Walsh 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.
"Our administration welcomes GE’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."
"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."
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,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;
· Assistance for eligible employees looking to buy homes in Boston;
Additional details will be released as available. Dear Friend,
GE is one of the oldest and largest corporations in the world and a global leader in technology, healthcare and innovation. Their choice to relocate to Boston reaffirms that our city is at the forefront of these industries and I am looking forward to the scores of positive change to our local economy and years of partnership ahead.
We have long known that Boston has what it takes to be a world-class city. We are home to the best colleges, hospitals and talent. However, our greatest strength as a city lies in our people. We have an educated and highly creative workforce who is inventing the technologies of the future and working to make the world a better place for everyone.
Our success in bringing GE to Boston is the result of months of hard work and collaboration between City and State officials. This all would not have been possible however if it weren’t for the people of Boston. The work that you do to help make Boston a world-class city, alive with the spirit of growth, creativity and innovation is the reason why our city is attractive to global companies.
As President Obama pointed out this week in his speech before the nation, Boston is competing with the most innovative cities in the country as we race to shape a better world.
While we celebrate our successes, we cannot forget the hard work that remains. For Boston to truly succeed, all of our residents must have equal opportunities. The Boston of the future should be equally known for success in our public schools, the safety of our streets and the affordability of our housing.
I will never lose sight of these true goals of building a better Boston for everyone. Together, we will make sure Boston’s best days are ahead.
Most sincerely,
Martin J. Walsh
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