I work a few blocks from the proposed HQ site and there are construction cranes in all directions, & there is plenty of demand for office space in Fort Point and excellent freeway access due to Big Dig exit at convention center. We already have enough Internet of Things meetups believe it or not.
Muckrock and the Boston Institute of Nonprofit Journalism tried to raise $1700 demanded by the mayor's office for reproducing the GE emails. But who needs emails when the charm offensive has begun? BINJ did a five-part series on the scheme.
These crony style one-off deals are always terrible economics. The "free market" certainly will fill that space very soon. There is no lack of demand, instead tons of local money already develops this area. In Jan 2015 a parking ramp in Fort Point sold for $56 million or $106,500 per spot!
As noted above many in the population are furious #MakeGEpay protesting in the freeze of last weekend's clipper. (Mayor Walsh was elected with 52% on 38% turnout). The schools are facing a $50 million shortfall, students walked out just a few days ago partially protesting this.
In this deal they don't have to pay regular taxes, instead they get to muck around in the local school system with all the purse strings attached as the press release makes clear. Instead of letting the city get normal tax revenue and the School Board allocate money for programs GE gets to basically do what it likes, as the press release clearly specifies.
Sen. Sanders said they are "destroying the moral fabric" of the USA. Boston Magazine reported in January:
"GE isn't exactly a shining model of corporate conduct. The company is one of most notorious abusers of offshore tax havens, with $119 billion stashed away across 18 overseas locations as of 2015. Democratic presidential hopeful Sen. Bernie Sanders once named GE the nation's top corporate tax avoider. From 2002 to 2011, GE eliminated a fifth of its U.S. workforce while its offshore profits multiplied sixfold to $92 billion."
Do you really think that some of these Beacon Hill luminaries haven't been looking forward to a taste of that offshore $119,000,000,000?? The centralization of decisionmaking in the schools, by withholding program revenue, is unfolding in parallel to this incredible offshore tax scam. Maybe they want Ft Point Channel access to float in barges of cash, why not? I am disappointed none of this important info is in the story summary.