Massachusetts offering infrastructure, not tax breaks for GE
BOSTON — More details are emerging about the commitments made to General Electric by Massachusetts officials as part of the company’s agreement to move its headquarters to Boston from Fairfield, Connecticut.
Officials in Republican Gov. Charlie Baker’s administration said Friday that the state was not offering tax breaks or incentives to GE, or any direct financial assistance to the company.
Instead, the state has committed to providing up to $120 million for infrastructure once the company chooses a site for its headquarters in the Seaport District.
Infrastructure could cover a broad range of categories from utilities to road and sidewalk improvements. The state funds would likely be channeled to the projects through the city of Boston.
The city has said it plans to offer $25 million in property tax relief to GE.