GE has announced that it has moved its headquarters to Boston, Massachusetts, US, after a lengthy review process that started in June 2015 and considered 40 potential locations.
GE said that Boston was selected following an evaluation of the business ecosystem, talent, long-term costs, quality of life for employees, connections with the world and proximity to other important company assets.
The company confirmed that it will sell its offices in Fairfield, Connecticut and New York City to further offset the cost of the move.
The new headquarters, employing around 800 people, will have a greater emphasis on innovation. A GE Digital Foundry will be created for co-creation, incubation and product development with customers, startups and partners.
GE Chairman and CEO Jeff Immelt, said: “GE aspires to be the most competitive company in the world […] Today, GE is a US$130 billion high-tech global industrial company, one that is leading the digital transformation of industry. We want to be at the centre of an ecosystem that shares our aspirations. Greater Boston is home to 55 colleges and universities. Massachusetts spends more on research and development than any other region in the world, and Boston attracts a diverse, technologically-fluent workforce focused on solving challenges for the world. We are excited to bring our headquarters to this dynamic and creative city.”
Edited from various sources by Callum O'Reilly
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