JIAHUI HU
GE announces move from Connecticut
Connecticut’s loss of General Electric — a multinational corporation that grosses 150 billion — pointed to the state’s chronic inability to grow its high tech industry.
GE — based in the Fairfield suburbs for the past 42 years — announced last Wednesday that it will relocate its headquarters to Boston. In a press release the company cited the city’s concentration of universities and Massachusetts’ public investments in research and development as reasons for the move. GE’s decision should not have been unexpected to local and state officials in Connecticut, New Haven economic development official Matthew Nemerson SOM ’81 said. He explained that the state has failed in the past decade to create a business environment that rivals Seattle, Toronto and Boston, where the Seaport district will house GE’s new headquarters by the summer of 2018.
January 19, 2016
