New, urban campus in South Boston will connect GE and its
surrounding ecosystem
GE announced today that its headquarters will be located in the Seaport
District of Boston along Necco Street. The property is under agreement
to be purchased from P&G and sits at the edge of its 44 acre South
Boston campus—at 5 and 6 Necco Way, representing roughly 2.5 acres.
The new headquarters will include a combination of existing buildings
and new construction. The purchase includes two historic buildings,
which will be renovated, and an adjoining parking lot, on which GE will
construct a new building. Employees will move to a temporary location in
Boston on Farnsworth Street starting in the summer of 2016, with a full
move completed in several steps by 2018.
“South Boston is a major hub for innovation and development and GE is
excited to be a part of such a dynamic and creative ecosystem that is
leading the future,” said GE Vice President Ann Klee. “This
centrally-located property presents an excellent opportunity to enhance
the Seaport District and the surrounding community. We look forward to
bringing our headquarters to South Boston.”
Charlie Pierce, president, The Gillette Company at P&G, said “When GE
contacted us, we saw an opportunity to welcome a world class innovation
leader into our neighborhood, benefiting the local community, enhancing
the Seaport District and generating value for our shareholders. We’ve
designed and manufactured some of the most cutting-edge shaving
technology in the world at this site for over a century and it will
continue to play a significant role for us in the future.”
GE announced the move of its headquarters to Boston in January 2016.
Boston was selected after a careful evaluation of the business
ecosystem, talent, long-term costs, employee experience, connections
with the world and proximity to other important company assets. 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. GE will
sell its offices in Fairfield, CT and at 30 Rockefeller Plaza in New
York City to offset the cost of the move.
In Boston, GE will have roughly 800 people; 200 from corporate staff and
600 digital industrial product managers, designers and developers split
between GE Digital, Current, robotics and Life Sciences. GE already has
a significant existing presence in Massachusetts, with nearly 5,000
employees across the state in businesses including Aviation, Oil & Gas
and Energy Management. In 2014, GE moved its Life Sciences headquarters
to Marlborough, and in 2015 GE announced its energy services start-up,
Current, would also be headquartered in Boston.
GE Vice President Ann Klee said, “Going forward, GE plans to be an
active part of the Boston community. We believe that Boston can capture
future growth in important new innovation in the industrial internet and
advanced manufacturing. In addition, the GE team plans to bring a spirit
of volunteerism and generosity to community efforts.”
About GE
GE (NYSE:GE) is the world’s Digital Industrial Company, transforming
industry with software-defined machines and solutions that are
connected, responsive and predictive. GE is organized around a global
exchange of knowledge, the "GE Store," through which each business
shares and accesses the same technology, markets, structure and
intellect. Each invention further fuels innovation and application
across our industrial sectors. With people, services, technology and
scale, GE delivers better outcomes for customers by speaking the
language of industry. www.ge.com
About P&G
In 1901, King C. Gillette created the world’s first safety razor
prototype in Boston, MA. More than a century later, the Gillette World
Shaving Headquarters is still located in South Boston. For over 110
years, Gillette has delivered precision technology and unrivaled product
performance – improving the lives of over 750 million men around the
world. From shaving and body grooming, to skin care and sweat
protection, Gillette offers a wide variety of products including razors,
shave prep (gels, foams and creams), skin care, after shaves,
antiperspirants, deodorants and body wash. For more information and the
latest news on Gillette, visit http://www.gillette.com/.
For a glimpse of pride, passion and precision behind the blades at
Gillette, visit: https://www.youtube.com/watch?v=T2_sJLSwnmQ
P&G serves consumers around the world with one of the strongest
portfolios of trusted, quality, leadership brands, including Always®,
Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®,
Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®,
Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G
community includes operations in approximately 70 countries worldwide.
Please visit http://www.pg.com
for the latest news and information about P&G and its brands.
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