GE Scraps Boston HQ Plans

CBJ — General Electric has decided against moving forward with a 12-story office building in Boston that would have been used as the new corporate headquarters.

Instead, GE has decided it will lease smaller buildings.

The city and state of Massachusetts had provided incentives totalling almost $90 million, which will be returned.

From a product aspect GE said last year it will restrict its involvement in the development of power plants, jet engines and renewable energy systems.