6 ms·

This is a terrible deal for Boston and the commonwealth. $145 million for 800 employees, or $181,250 per employee, in a state that can't even keep its public tr

This is a terrible deal for Boston and the commonwealth. $145 million for 800 employees, or $181,250 per employee, in a state that can't even keep its public transportation system running. Thanks Governor Baker. Did this deal cost us just the Mattapan line? Or are we losing GLX too?

Alupis 11y ago
> $145 million for 800 employees, or $181,250 per employee It seems like a lot, but this is the corporate HQ. The staffers will be re-located and/or hired from the surrounding area - and surely will make nice salaries. Since these executives and other staffers will be living in the area (in large part), they'll put their salary right back into the local economy (buying groceries, cars, houses, paying bills, etc...). Most of those employees will put far more than the $181,250 back into the local/state economy over their tenure at GE.
- s73v3r 11y ago
  So? Couldn't one say that about any large company? Should states be constantly cutting taxes for these large companies, and shoving them onto the people who live there now?
  - cableshaft 11y ago
    It's not too uncommon that cities or states have tax incentives to encourage certain industries to set up shop in the area. Like Atlanta offers a significant tax credit for film, television, and digital entertainment (video games) companies, for example: http://www.georgia.org/competitive-advantages/tax-credits/film-television-and-digital-entertainment/ http://www.georgia.org/competitive-advantages/tax-credits/fi...
thoughtsimple 11y ago
These are some of the highest paid corporate officers. The state income tax will offset the cost in a few years.
fredleblanc 11y ago
It certainly doesn't seem like good long-term planning. I suppose our state traded the Olympics fiasco for this one.
- ljw1001 11y ago
  In that case, I support it entirely. The Olympics was a much bigger fiasco.

Alupis 11y ago

> $145 million for 800 employees, or $181,250 per employee It seems like a lot, but this is the corporate HQ. The staffers will be re-located and/or hired from the surrounding area - and surely will make nice salaries. Since these executives and other staffers will be living in the area (in large part), they'll put their salary right back into the local economy (buying groceries, cars, houses, paying bills, etc...). Most of those employees will put far more than the $181,250 back into the local/state economy over their tenure at GE.

s73v3r 11y ago
So? Couldn't one say that about any large company? Should states be constantly cutting taxes for these large companies, and shoving them onto the people who live there now?
- cableshaft 11y ago
  It's not too uncommon that cities or states have tax incentives to encourage certain industries to set up shop in the area. Like Atlanta offers a significant tax credit for film, television, and digital entertainment (video games) companies, for example: http://www.georgia.org/competitive-advantages/tax-credits/film-television-and-digital-entertainment/ http://www.georgia.org/competitive-advantages/tax-credits/fi...

thoughtsimple 11y ago

These are some of the highest paid corporate officers. The state income tax will offset the cost in a few years.

fredleblanc 11y ago

It certainly doesn't seem like good long-term planning. I suppose our state traded the Olympics fiasco for this one.

ljw1001 11y ago
In that case, I support it entirely. The Olympics was a much bigger fiasco.