[BPt111]

Report: General Electric narrows down relocation options to Boston, New York

GE considering moving headquarters to Boston from Connecticut


BOSTON —General Electric is expected to make a decision soon about whether the company's headquarters will be moved out of Connecticut. GE has made no final decision but NewsCenter 5 has learned two cities in contention are Boston and New York.

If the move to Boston occurs, GE would likely move its 700 workers at their worldwide headquarters to the Seaport District. That area is slowly becoming defined by an innovation economy.

Other aspects drawing the company to the area may be the easy access to Logan airport and the fact that 35 percent of Bostonians are 24-35.

"How close are you to closing the deal with GE?" NewsCenter 5 reporter Janet Wu asked Mayor Martin Walsh.

"Really can't, really can't talk about any particulars here," he answered. "Boston is a great city, it's a wonderful city. I think anybody would love our city and what we have to offer."

"The ecosystem of Boston is much more manageable than a New York system or one of the other mega cities around the world," suggested Jim Rooney, of the Greater Boston Chamber of Commerce.

Multiple sources say tax credits and property tax relief are under discussion.

"Tax credits I hear are on the table, property tax relief - another thing that's on the table. Are these two MUSTS for drawing them into Boston?" Wu asked the mayor.

"Again, I'm not going to get into the terms of any type of deal," Walsh said.

Another strong selling point - the close cooperation between Republican Gov. Charlie Baker and Democratic Mayor Walsh.

"(Walsh) and the governor have teamed up on this in a way that may be unprecedented," Rooney said. "I think companies look for that: that political relationship stability, they don't want to walk into a place where there are arrows being shot back and forth."

State and city officials also are offering to find temporary office space while their worldwide headquarters is being established.

GE's decision is expected within the next few weeks.


GE considering moving headquarters to Boston from Connecticut | Local News - WCVB Home

http://dailycaller.com/2012/01/30/ge...-income-taxes/

[BPt111]

GE possible new location from CT


Boston Seaport District it one of Boston hottest areas and it growing with new developments , access to Boston subway, Logan Airport across the river, Boston South Station to NYC/D.C and commuter rail outside of Boston, close to major shopping and heart of the city

[mlassoff]

The area pictured is not what they're talking about. They're talking about the area by the cruise ship port.

The seaport district has little parking, and is one of the most inaccessible areas of Boston via public transport. It's a bus or a cab from south station or Logan.

I would see them have to make major changes before going in there....

There's also little in the way of restaurants or amenities, but the area is changing. I was just there for a meeting yesterday.

[BobNJ1960]

Originally Posted by BPt111

$60 a Second: Connecticut’s Outmigration Problem | Yankee Institute for Public Policy

Excellent article. Thanks for sharing.

[BPt111]

GE move could signify larger trends toward cities - Connecticut Post

[BobNJ1960]

Originally Posted by BPt111

GE move could signify larger trends toward cities - Connecticut Post

That would be extremely interesting all across the nation. I do remember when Nissan hq came to Tn they built a gorgeous hq in suburbs, but stayed downtown Nashville renting Bell South floors as a temp hq 18 months while it got built. They lost a large % of the millenials upon moving to the burbs, as they obtained employment close to the temp hq they worked in downtown, and they moved into downtown condos.

[Beeker2211]

Bob, for once I agree with ya.

CT is dismal when it comes to Class A office space in urban centers. Stamford has a minor glut right now but Hartford's market is brisk to say the least, New Haven has no Class A available to speak of (I think almost an 80% rental rate for Class A), and Bridgeport has 0% available. Way too much focus on suburban office parks, which while all the rage in the late 80s really are trying hard to keep up with the changing demands of corporate tenants. The state parking regs are seriously choking demand (who wants to spend 10k/per deskspace for additional parking??) that could really be better used and actually contribute to the grand lists of the cities. I wouldn't be so upset if GE even considered Bridgeport CBD for a landmark building, instead of trying to act like prom queen.

A possible fix is the Fiber dark lines that could easily be put into use by a state agency (or competitive monopoly) into each CBD that would make internet speeds in those areas literally second to none (would blow NYC and SF away by a country mile) and better transportation. Too many in the GA are seriously stuck in the 70's and rarely have the vision to make CT a world leader in corporate locales.

[BobNJ1960]

It goes beyond better internet. Ct has small cities, and small cannot compete in things like fine restaurant availability or entertainment options with larger cities. They can't compete for upscale, urban housing in small cities either. Nor in mass transit options fitting the 21st century population.


I do think, no matter what GE does, we are going to see major urban core areas become the in spot to be. If that occurs, GE would simply be the 1st big guy abandoning Ct suburbia, not the last. And that is not btw, if the true cause, the fault of any politician or any business leader.

[BobNJ1960]

Originally Posted by Raider111

Boston came on real strong at the 11th hour, in very serious consideration, hence the delay.

It would not surprise me if Boston wins the rights to this tremendous corporate icon.

[RunD1987]

Boston is a good city, but still think White Plains be the best location though. Near NYC, near decent train line, near 2 airport's, and near CT.