Sources: GE is not moving its corporate headquarters to AtlantaGeneral Electric's logo
By Maria Saporta
It appears that General Electric Co. (NYSE: GE) will not be moving its corporate headquarters to Georgia.
The company, which ranks No. 8 on the Fortune 500 list, apparently will stay in the Northeast – either in its current home of Fairfield, Conn., or two other Northeast contenders – the greater New York City area or Boston.
Since late spring, Georgia has been wooing GE after the company said it would consider relocating its headquarters because of Connecticut’s moves to increase taxes for businesses.
The company set up an exploratory committee to consider possible sites for its headquarters, and more than a dozen states initially were considered.
Georgia was one of the states that was visited by the members of the exploratory committee in early October. It is thought that GE was considering up to six cities in that round – Atlanta, Chicago, Denver, Raleigh-Durham, Boston and New York.
The committee then met in early November, but Georgia did not receive word as to whether there would be a follow-up visit.
That was when Georgia officials began to question whether Atlanta would make it to the next round, or whether GE would decide to stay in the Northeast.
Story is developing.