BY THOR JOURGENSEN
LYNN — General Electric brought the City of Boston some good news Wednesday, announcing it will move its headquarters to the city even as it maintains a commitment to sustain and build its aviation engine production business at the River Works plant in Lynn.
GE spokesman Richard Gorham said the corporate move from Fairfield, Conn. to Boston, beginning this summer, won’t overshadow the River Works’ commitment “to focus on serving our customers and overcoming challenges related to volume drop-off and cost.”
“While very positive for the state, GE’s HQ relocation to Boston will not have a direct impact on Aviation in Lynn,” Gorham added.
In announcing the move, General Electric pointed to the 55 colleges and universities in the Greater Boston area and underscored Massachusetts’ status as the world leader in research and development spending.
The $130 billion global industry company has been rethinking how to organize and where to base its headquarters for more than three years, said the statement. Boston was the final choice out of an initial list of 40 potential locations.
About 800 GE employees will work in the Boston headquarters — most of them digital industrial product managers. The new headquarters will be located in Boston’s Seaport District with a temporary headquarters opening this year and a full move completed by 2018.
GE workers build mainstay military and commercial jet engines and helicopter engines at the River Works complex wedged between the commuter rail tracks and Western Avenue. The company is prospecting for international business opportunities as it seeks out new orders for long-running engine products.
A landmark for decades on Lynn’s landscape, General Electric’s presence in the city is changing with the former gear plant site off the Lynnway demolished and slated for residential development.
The Factory of the Future building on Western Avenue is also earmarked for demolition and city Economic Development and Industrial Corporation Director James Cowdell Wednesday said U.S. Rep. Seth Moulton is intent on spurring Lynn’s economy and has designated as a priority potential reuse of River Works land no longer used by GE.
“Those conversations are happening at a very high level,” said Cowdell.
Thor Jourgensen can be reached at [email protected].
