GE’s Decision to Scrap Boston HQ Shows Corporate Tax Incentives Don’t Work [Fortune]
General Electric Company (GE)
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Source: Fortune
GE’s Decision to Scrap Boston HQ Shows Corporate Tax Incentives Don't Work It was just three years ago that General Electric (ge) On Thursday, the multinational said it plans to downsize its building plans to better accommodate its streamlined business, scrapping plans for a 12-story office tower on the waterfront. It will instead sell the land and two state-owned buildings being renovated for the company, then lease space in those buildings (which were once home to the Necco The overall result is that GE will now be staffing its corporate headquarters with about 250 employees rather than the planned 800. It will also return $87.4 million the Massachusetts development agency has spent on the move, the Globe Which prompts a much bigger question: are tax incentives enough to attract big corporations any more? Gary, Ind., put together a $47 million incentive package for U.S. Steel (x) have to cut jobs Wisconsin put together a $4 billion incentive package for Foxconn to start manufactur
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