BOSTON (Reuters) - The state of Massachusetts offered diversified manufacturer General Electric Co $120 million in grants and other financial incentives to persuade it to move to Boston, with the city kicking in another $25 million in tax relief, officials said on Wednesday.
City and state officials regard the move as the linchpin of an effort to redevelop the city’s southern waterfront, which has transformed from acres of parking lots to a massive construction site with about a dozen office and apartment towers under construction.
“In addition to adding hundreds of high-paying jobs to our state, we look forward to partnering with GE to achieve further growth across a spectrum of industries and are confident GE will flourish in the Commonwealth’s inventive economy,” said Massachusetts Governor Charlie Baker.
Reporting by Scott Malone; Editing by Chris Reese
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