GE They Bring Good Things…Out of Connecticut

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UPDATE:

Word has it that GE will move to Boston.  Will they donate their office campus to Sacred Heart for a tax write off?  Stay tuned, we will continue following this story.

GE has not announced whether it will keep its headquarters in Fairfield or move elsewhere, but various publications have said Atlanta is emerging as a leading candidate.
The company has voiced concerns about its tax burden in Connecticut.
GE, which has 4,900 employees in Connecticut, including 800 at its 480,000-square-foot headquarters in Fairfield, has established a search committee that is visiting sites in Atlanta.

The company also is eyeing New York City as a possible home.

The loss of the company would create a major void in both the Connecticut economy and the Fairfield County commercial real estate sector.

In April, Hearst Connecticut Media reported that GE would divest Norwalk-based GE Capital, which has major operations in Stamford.

GEHQ

GE Headquarters in Fairfield, CT

GE and GE Capital spun off a GE Capital unit last year and named it Synchrony. GE has a $26 billion stake in the business, which in July had 350 employees in Stamford. It plans to hire another 200, reported Hearst Connecticut Media.

GE plans to sell its controlling interest in Synchrony by the end of 2015, according to  Hearst Connecticut.

Businesses that supply products and services to GE also could be affected.

Pyramid’s staff of commercial brokers will be available to represent building owners impacted by GE’s departure, should it occur. Its property management division can rent, manage and provide 24/7 emergency maintenance services to affected employees who move but cannot sell their homes.

Call Pyramid at 203-348-8566 or email www.pyramidREgroup.com.