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Boston Mayor Marty Walsh on GE’s expected move: City won Powerball

Jan 13, 2016Council in the News, MassLive.com

By Gintautas Dumcius

The Massachusetts High Tech Council said GE’s move “reinforces the limitless opportunities for economic growth that are available to use when business and political leaders work together.”

“Governor Baker and Mayor Walsh should be commended for their creativity and diligence in bringing GE’s headquarters here and we congratulate them on this significant milestone in Massachusetts’s economic history,” Chris Anderson, the council president, said in a statement.

The City of Boston won the Powerball Jackpot.

That’s Mayor Marty Walsh’s take on General Electric Co., the eighth largest corporation in the U.S., announcing plans to move its global headquarters from Fairfield, Conn., to Boston’s Seaport District. The move takes the conglomerate’s workers out of the suburbs and places them inside a dense city.

In the release announcing its move, expected to wrap up in 2018, the company cited the city’s “business ecosystem,” quality of life and “connections with the world.” The company is expected to bring in 200 senior executives and 600 other professionals within the company.

The company already has almost 5,000 employees in the Bay State, working on aviation, oil and gas and energy management matters.

Massachusetts beat out New York and Rhode Island, among other states, for the global headquarters.

“I think what this will do for the city of Boston and for the commonwealth of Massachusetts is spur a lot of other companies to look to Boston,” Walsh said during a press conference inside City Hall.

State and city officials worked together to lure the company to Massachusetts, offering incentives of up $120 million in grants and other programs. Up to $25 million was offered in property tax relief, and further details are still being worked out, according to Walsh.

Walsh, a Democrat and former labor leader, said he and Gov. Charlie Baker, a Republican, spoke often about the potential for GE coming to Boston. Baker told reporters that there was “no daylight” between Walsh and Baker, as they lobbied GE senior managers, showing they were willing to work together.

“This is a huge win for the city of Boston, a huge win for Massachusetts and the indirect, direct spillover from this will be felt by this economy and this community for years to come,” Baker said after a separate event at the State House.

The company considered 40 potential locations.

“The day that GE announced that they were having problems and leaving Connecticut… we contacted not just GE but all the companies in Connecticut just to say if they are truly leaving that Boston’s open for business,” Walsh said.

Walsh received a phone call from GE about the move this morning, while he was at Cathedral High School.

The Massachusetts High Tech Council said GE’s move “reinforces the limitless opportunities for economic growth that are available to use when business and political leaders work together.”

“Governor Baker and Mayor Walsh should be commended for their creativity and diligence in bringing GE’s headquarters here and we congratulate them on this significant milestone in Massachusetts’s economic history,” Chris Anderson, the council president, said in a statement.

The Massachusetts Republican Party pointed to taxes and regulations in Connecticut as a key driver behind GE’s move.

“Tax-and-spend Democrats in the Legislature should recognize that the environment of high taxes and heavy regulations created by Connecticut’s Democratic governor is a road to job loss,” Mass. GOP chair Kirsten Hughes said in a statement.

 

Increasingly, the Massachusetts High Technology Council is stepping up to create, execute, and lead critical statewide competitiveness strategies. Fostering a vision for our innovation economy under the MassVision2050 banner, the Council solidifies its position as a thought leader providing valuable insights to navigate emerging technologies, facilitates long-term planning, and reinforces the Council's commitment to excellence and action in the evolving Massachusetts tech-driven economy.

To learn more, contact Council President Chris Anderson.