Fairfield’s General Electric has found the permanent home for its global headquarters along the Boston waterfront.
The company announced today it will set up shop in the Seaport District along Necco Street. The property is under agreement to be purchased from P&G and sits at the edge of its 44 acre South Boston campus—at 5 and 6 Necco Way, representing roughly 2.5 acres.
The new headquarters will include a combination of existing buildings and new construction. The purchase includes two historic buildings, which will be renovated, and an adjoining parking lot, on which GE will construct a new building. Employees will move to a temporary location in Boston on Farnsworth Street starting in the summer of 2016, with a full move completed in several steps by 2018.
In Boston, GE will have roughly 800 people; 200 from corporate staff and 600 digital industrial product managers, designers and developers split between GE Digital, Current, robotics and Life Sciences. GE will sell its offices in Fairfield and at 30 Rockefeller Plaza in New York City to offset the cost of the move.
Massachusetts and Boston combined are offering grants and incentives up to $145 million for the move.
