General Electric breaks ground on new Boston headquarters

General Electric has broken ground on Innovation Point, its’ new $200 million, 390,000-square-foot headquarters campus located on the banks of Fort Point Channel in the heart of Boston’s Innovation District. A groundbreaking ceremony was held at Innovation Point on Monday (May 8th, 2017), with speakers including Jeff Immelt, GE’s Chairman and CEO, Ann Klee, GE’s Vice President of Environment, Health & Safety and Boston Development and Operations head, Massachusetts Governor Charlie Baker and Boston Mayor Martin J. Walsh.

At Monday’s ceremony, GE announced that it will contribute $50 million towards Boston Public Schools, opioid addiction and other community causes. Mayor Walsh also announced that, over the next 25 years, GE will increase city taxes by $67 million. "This is a big day and a big statement, and one more step forward in the continuing evolution of Massachusetts as a global player on so many fronts and in so many ways," said Governor Baker.

Approximately 800 GE employees are expected to work at Innovation Point, and construction of the campus will generate approximately 1,500 jobs. State and city government officials offered GE $145 million in incentives to relocate its’ headquarters to Boston. Boston’s “great innovation ecosystem, huge talent pool, great leadership and wonderful quality of life” made the city an “obvious choice” for GE, said Klee. “What we're bringing here together is one of the country's oldest companies, in GE, has moved its headquarters to one of the country's oldest cities, in Boston, for the purpose of creating the future,” said Immelt.

Pictures from GE’s groundbreaking ceremony are posted below, and newly revealed renderings of Innovation Point are posted above.

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