General Electric pledges to spend $50M on Boston initiatives

Staff Writer
Columbus CEO

BOSTON (AP) — General Electric is pledging to spend $50 million on a series of initiatives in Boston, including $25 million in the public schools.

The announcement came as company CEO Jeffrey Immelt, Republican Gov. Charlie Baker and Democratic Mayor Marty Walsh unveiled more details Monday about the company's decision to move its headquarters from Fairfield, Connecticut, to Boston.

General Electric Co. will occupy two buildings and build a third in Boston's Fort Point neighborhood. Immelt says the move will create about 4,000 temporary and permanent jobs.

Immelt says GE also plans to fund a career lab to prepare students for jobs in advanced manufacturing technology.

Protesters gathered outside the press conference to highlight the millions of dollars in tax breaks and public incentives used to lure the company.