GE has officially selected an office location for its headquarters. Once home to a candy factory for NECCO wafers, two buildings at Necco Court in Fort Point will become part of a three-building campus for GE. GE will renovate the two existing structures and build a third to house 800 employees. Bringing its headquarters from Fairfield, Connecticut to Boston by 2018, GE is slated to become the biggest company headquartered in Boston.
GE announced the move in January. Some employees will be moving to temporary headquarters this summer. The city of Boston offered several incentives for bringing the GE headquarters to the Seaport, among them a $25 million in property tax relief and a state package of up to $120 million of additional benefits. Boston promised improved transportation and commuting to the Seaport District like that of the redevelopment of the Northern Avenue Bridge as well as an innovation center.
Incentives from the city weren’t the only thing pushing the move. GE has been working on becoming associated with software development and attracting top talent in tech. A big part of that mission is moving its campus to Boston, where a rich ecosystem of startups and innovation is burgeoning.
GE is dipping further and further into software development to power its products with the ultimate goal of selling this software to other manufacturers. Some believe this ambitious goal of becoming a top 10 software company by 2020 is lofty and outside the scope of GE’s wheelhouse, but Jeff Immelt is optimistic.
Since his appointment as CEO, Jeff Immelt has been working on changing the company from its once stringent, corporate roots to a friendly, smart data-centric business. Bloomberg discussed the reinvention of GE labeling the energy giant a 124-year-old startup. The Seaport is the ideal starting ground for this new shift.
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