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GE shrinks Boston headquarters plan; state to get $87 million back
Reuters: General Electric Co scrapped plans for a 12-story headquarters office tower on Boston’s waterfront on Thursday, choosing instead to lease smaller buildings nearby and return $87 million in incentives to the state of Massachusetts.
The move is another side-effect of the 127-year-old company’s decision last year to break up and sell major businesses since it will no longer need the 800-person campus it envisioned.
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