By Andrea Asuaje
BU News Service
Welcome to Boston, General Electric.
The Boston Globe is reporting that the international conglomerate will make Boston its new home, a move that would “[cement] Boston as a hub of innovation in technology and life sciences. ”
So far, not much is known about the deal, including the deal’s terms and where the headquarters will be located, but the Globe story states that the formal announcement from Massachusetts and GE officials will come tomorrow.
According to the Globe story, GE generates $150 billion in revenue annually “and would be far and away the largest publicly traded company based in Massachusetts.” The headquarters, currently stationed in Connecticut, employee about 800 people.
The move to Boston could generate jobs, state corporate taxes and comes with a “promise of philanthropy,” according to the Globe.