GE’s announcement last week that it would be moving its corporate headquarters to Boston’s trendy Seaport District from its suburban location in Fairfield, Conn., lit up the news wires with analysis of what the move may mean for GE and for the Boston economy.
Boston’s allure for electrical companies has been growing over the past few years. Osram Sylvania held the grand opening of its new Osram Americas headquarters in Wilmington, Mass., this week, and Schneider Electric announced its move to Andover, Mass., in 2014.
The GE announcement came as a blow to the state of Connecticut, where generations of GE executives worked at the Fairfield headquarters and other locations around the state. According to a report at www.bostonglobe.com, Boston lured GE with a $145 million in incentives and beat out New York and Providence, R.I. But in a press statement, Jeff Immelt, GE chairman and CEO, said the move was all about being closer to the Boston area’s technological talent.