Could Gov/Mayor Feud Thwart GE Move to NY?
GE is considering leaving Fairfield County after Connecticut announced plans to raise taxes on large multinational companies, and Manhattan is on the list of possible new HQs.
Gov. Cuomo initially pitched Westchester County as a potential destination, promising big tax breaks, but GE isn't looking to relocate to the suburbs, Crain's reports. And herein lies the problem. Bringing GE back to Manhattan would require teamwork on the part of Gov. Cuomo and Mayor Bill de Blasio, two notoriously feuding figures.
Gov. Cuomo also has to consider the northern suburbs' need for an economic boost. De Blasio's struggle will be providing enough incentives to rival Connecticut, Westchester or Atlanta, all options the company has considered.
No word on whether GE plans to move all 800 of its Fairfield employees to the new HQ, or whether the company plans to include some of its tech businesses from other locations. But we'll find out soon enough if GE is worth a Cuomo/de Blasio alliance. [Crain's]