Light Rain Fog/Mist 45°

SHARE

Demographics, Not Financial Incentives, Lured GE From Fairfield To Boston

FAIRFIELD, Conn. — The deal that lured General Electric from Fairfield to Boston add up to $145 million, which is less than some other states offered to the global company, according to the Connecticut Post.

GE CEO Jeffrey Immelt did not meet face-to-face with Boston officials before making the decision to move the global company to Massachusetts, the Post said.

GE CEO Jeffrey Immelt did not meet face-to-face with Boston officials before making the decision to move the global company to Massachusetts, the Post said.

 Photo Credit: Contributed
Daily Voice

Poll
Do you think GE's move will hurt the economy in Fairfield County?
Final Results Voting Closed

Do you think GE's move will hurt the economy in Fairfield County?

  • yes
    88%
  • no
    8%
  • not sure
    4%

But Boston offered many things that Fairfield and other locations did not: top universities; public transportation; and a recent history of helping biotech and drug companies, startups and incubators, the Post said. And, 1 in 3 Boston residents are between the ages of 20 and 34, the Post said.

Many business experts and Connecticut Gov. Dannel Malloy said GE was looking to tap into a younger, more tech-savvy set of potential employees in the future, something it could not do in suburban Fairfield.

GE announced this week that it would begin moving employees this summer from its campus-like setting in Fairfield to Boston. By 2018, the Fairfield headquarters will be closed and 200 of its 800 workers will have moved to the new location. GE has not explained the fate of the other 600 workers, but Fairfield First Selectman has reassured residents that GE will pay its $1.5 million property tax bill.    

Click here to read the Connecticut Post story.

to follow Daily Voice Fairfield and receive free news updates.

SCROLL TO NEXT ARTICLE