GE representatives to tour Atlanta soon as part of HQ search

[Gulch]

Originally Posted by Zanarkand A East

I wonder how soon before GE replaces Philips as the arena name sponsor. Reportedly, Philips has been trying to get out of that deal for years.

Not until 2019 at the earliest, and I haven't heard anything about Philips wanting out.

[DonMattingly]

GE isn't moving to Atlanta.

BLOGS › GREG DAVID ON NEW YORK
November 1, 2015
GREG DAVID ON NY
GE eyes NY, but guv-mayor feud stands in way
The decision between Westchester or Manhattan could hinge on whether the two politicians can work together.
Greg David By Greg David
1 Comment Comments Email
7 11 0
After Connecticut decided to raise taxes on large multinational companies, General Electric announced this year that it would explore moving its headquarters from Fairfield County. Gov. Andrew Cuomo rushed to GE’s offices to interest it in relocating to Westchester County, with the implicit promise of big tax breaks.

It turns out that the northern suburbs are not what GE wants. Politico New York reported last week that GE is interested in moving to the city—almost certainly to Manhattan. Suburban office parks are out; urban centers are in, which is the major reason New Jersey’s economy is doing so poorly.

What would be shocking is whether the governor and Mayor Bill de Blasio team up to lure GE back to the place it abandoned in 1975. The difficulties begin with the endless feud between the governor and the mayor. I doubt Cuomo will want to share the credit with his rival, which would be necessary if GE moves to Manhattan.

Politically, the governor also needs some sort of economic boost for the northern suburbs, where job growth has been anemic for years and where the Westchester office vacancy rate is 15%, compared with 9% in Manhattan. Cuomo will pay a political price soon for focusing on upstate and spending so much money there (at least $2 billion, including $750 million to a single solar-panel plant) while the suburbs stagnate.

Then there is de Blasio’s problem with incentives, which will be required for GE because the company will be offered sizable tax breaks to stay in Connecticut or go to Westchester or Atlanta, where it has looked at its options.

But consider the JPMorgan Chase fiasco. When the bank sought $1 billion in concessions to move its operations to two new office towers at Hudson Yards, it was vilified, including by Deputy Mayor Alicia Glen. (It was always unclear if Chase wanted $1 billion in total or $1 billion in addition to the $600 million it was entitled.)

It isn’t clear how many of the 800 Fairfield jobs GE would move, although it might also want to bring along some of its tech businesses from other locations, given the growth of that sector in New York. Many will argue that winning the GE relocation battle isn’t worth the cost and will set a bad precedent. The coming months should tell us how much GE is worth to the mayor and the governor.

[ATLTJL]

They decided on Boston.

[Mutiny77]

Originally Posted by ATLTJL

They decided on Boston.

Wasn't expecting that. If they were going to stay up North, I figured they'd remain in greater NYC.

[AnsleyPark]

Originally Posted by Mutiny77

Wasn't expecting that. If they were going to stay up North, I figured they'd remain in greater NYC.

In the ABC article, the GE CEO stated: "We want to be at the center of an ecosystem that shares our aspirations. Greater Boston is home to 55 colleges and universities. Massachusetts spends more on research & development than any other region in the world, and Boston attracts a diverse, technologically-fluent workforce focused on solving challenges for the world. We are excited to bring our headquarters to this dynamic and creative city.”

Seems to me like a great place for them to relocate.

[aries4118]

Originally Posted by AnsleyPark

In the ABC article, the GE CEO stated: "We want to be at the center of an ecosystem that shares our aspirations. Greater Boston is home to 55 colleges and universities. Massachusetts spends more on research & development than any other region in the world, and Boston attracts a diverse, technologically-fluent workforce focused on solving challenges for the world. We are excited to bring our headquarters to this dynamic and creative city.”

Seems to me like a great place for them to relocate.

Good advice for Atlanta. Elements we can work to increase, while maintaining our other advantages.

[Mutiny77]

Originally Posted by AnsleyPark

In the ABC article, the GE CEO stated: "We want to be at the center of an ecosystem that shares our aspirations. Greater Boston is home to 55 colleges and universities. Massachusetts spends more on research & development than any other region in the world, and Boston attracts a diverse, technologically-fluent workforce focused on solving challenges for the world. We are excited to bring our headquarters to this dynamic and creative city.”

Seems to me like a great place for them to relocate.

Certainly it is. If you want a highly skilled workforce, Boston is waaaayyyy up there.

[Mishap]

Originally Posted by AnsleyPark

In the ABC article, the GE CEO stated: "We want to be at the center of an ecosystem that shares our aspirations. Greater Boston is home to 55 colleges and universities. Massachusetts spends more on research & development than any other region in the world, and Boston attracts a diverse, technologically-fluent workforce focused on solving challenges for the world. We are excited to bring our headquarters to this dynamic and creative city.”

Seems to me like a great place for them to relocate.

$150M in incentives for ~800 people = $187k per job. They can keep them.

[Atlwarrior]

Originally Posted by Mishap

$150M in incentives for ~800 people = $187k per job. They can keep them.

GE 's corporate spending and prestige will more than make up for that 150 million. Heck that may give that to local universities alone.