General Electric breaks ground on new Boston headquarters

BOSTON — General Electric broke ground in Boston on its new headquarters Monday morning.

The $200 million, 390,000-square-foot building is being constructed in the Fort Point section of Boston.

Much of the space will be open to the public and will leave room for local start-ups.

Gov. Charlie Baker, Boston Mayor Marty Walsh and the president of GE, Jeff Immelt, are expected to be at the ceremony.

General Electric is receiving up to $125 million from the state and $25 million in tax breaks to make the move to Boston.

The company made the announcement last August that it was moving its headquarters from Connecticut to Boston.

Over the next five years, GE plans to invest $50 million in the community with a series of initiatives to assist Boston schools, community health centers and state work force training.

Baker and Walsh were instrumental in convincing GE to leave Connecticut in favor of Massachusetts.

Construction of the new building is expected to be completed in the fourth-quarter of 2018.