General Electric announced plans Thursday to locate its new headquarters in South Boston’s Seaport District. The 2.5-acre property will be purchased from Procter and Gamble as a piece of P&G’s 44-acre site, according to a Thursday press release.
GE will purchase two historic buildings at 5 and 6 Necco St., which will undergo renovations, as well as a parking lot where GE will construct a third building, according to the release.
In the release, GE Vice President Ann Klee said the company looks forward to joining the Seaport District for the new headquarters.
“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,” Klee said in the release. “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.”
Klee also added that GE hopes be involved in creating a brighter, more innovative future for the community.
“Going forward, GE plans to be an active part of the Boston community,” Klee said in the release. “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.”
Damon Jones, a spokesperson for P&G, said GE contacted P&G about the property, which happens to be a historic one.
“We’ve been at that site for more than 100 years and have a property there that is about 44 acres and we’re going to continue to have that as our … headquarters,” Jones said. “As GE undertook the search for its new home in the Boston area, they contacted P&G and [were] interested in purchasing a small bit of property at the edge of our 44-acre site.”
Jones said P&G is in favor of the sale and is enthusiastic about how GE can positively impact both their company and the City of Boston.
“We saw it as a huge opportunity to have a fellow innovation leader in our backyard, and at the same time, it had some benefits to P&G and the local community as well,” Jones said. “We think they’ll be an excellent addition to the city and the state, and given the state of the real estate market in Massachusetts, the sale will be a strong value for P&G shareholders.”
Several Boston residents said GE’s new location would improve the economy within the City of Boston.
Sarah McCord, 28, of Allston, said the company’s move could create job opportunities for students in the Boston area.
“I would hope that it would increase the amount of jobs in Boston and think it would be good for a company like this to be in Boston,” she said. “It would create a lot of opportunities for students, since they would probably look for employees coming from Boston schools since they’re in the area, rather than colleges that are further away.”
Jaclyn Dumo, 32, of Brighton, said there would only be positive effects from GE’s new location.
“It could definitely lead to more jobs, a better economy, more opportunities for internships and people working in technology,” she said.
Benson Bain, 21, of Roslindale, said Boston’s economy would benefit from the corporation’s location.
“It would improve a lot of things,” he said. “It would bring in a lot more jobs, and the economy would be helped, which in turn would create even more jobs. I think it’s a great idea for it to come to Boston. I know the employment rate is kind of picking up, so for right now, it would definitely be a good move for Boston.”
