We knew General Electric was coming to the South Boston waterfront but we just weren’t sure the exact location of the 800 plus employee headquarters would be. Well, GE announced on Thursday that they picked the roughly 2.5 acre property located along Necco Street in South Boston. The property is under agreement to be purchased from P&G at 5 and 6 Necco Way.
The Fortune 500 (ranked 8th) company was deciding between two South Boston locating. The other location considered was Massport property located next to the World Trade Center T station.
According to press release, 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.
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.”
So there you have it!