General Electric Pledges to Spend $50M on Boston Initiatives

General Electric is pledging to spend $50 million on a series of initiatives in Boston, including $25 million in the Boston Public Schools.

The announcement came as company CEO Jeffrey Immelt, Republican Gov. Charlie Baker and Democratic Boston Mayor Marty Walsh unveiled more details Monday about GE's decision to move its headquarters to Boston.

GE will occupy two buildings and build a third in Boston's Fort Point neighborhood. Immelt said the move will create an estimated 4,000 temporary and permanent jobs.

Immelt said GE also plans to fund a career lab to prepare students for jobs in advanced manufacturing technology.

Protesters gathered outside the press conference to highlight the millions in tax breaks and public incentives, including the prospect of free rent on city-owned land, used to lure the company.

Copyright AP - Associated Press
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