Look like General Electric will not be building the elaborate 12-story tower in the Fort Point neighborhood of Southie after all. Instead the struggling Fortune 500 company will just be moving into two brick buildings on Necco Court and employing around 250 people instead of the initial 800 jobs expected.
According to the Boston Globe, GE will give back $87 million in tax incentives to the state and sell off the 2.7 acre parcel of land along Fort Point Chanel.
To read more about it, visit here!
Thank god. That project could be done by now had it been in the hands of a traditional developer. Win/Win for everyone, including most importantly, us tax payers who had subsidized the project.