GE set to move HQ to Boston

General Electric has chosen Boston as its new global headquarters, according to the Boston Globe.

A formal announcement is forthcoming but the report says company executives have let the Massachusetts governor and Boston mayor know of their decision.

New York, Georgia and Rhode Island were all in the running for the company's relocation.

GE began looking to move out of Connecticut last year after state legislators threatened to raise corporate taxes. CEO Jeffrey Immelt, in a letter to employees last June, said he had a team looking into the company’s options “to relocate corporate HQ to another state with a more pro-business environment.”

GE has been based in Fairfield since the mid-1970s.