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CEO Promises GE Will Keep 'Big Presence' In Connecticut

General Electric CEO Jeffrey Immelt
General Electric CEO Jeffrey Immelt Photo Credit: Facebook

FAIRFIELD COUNTY, Conn. — As General Electric CEO Jeff Immelt accepted a business leadership award Tuesday in Stamford, he said his Fairfield-based conglomerate would always have a "big presence" in Connecticut even as a search continues for a new location for its headquarters, according to a story at the Connecticut Post website.

Immelt made the remarks as he accepted the Walter H. Wheeler Jr. Business Leadership Award from the Stamford-based Business Council of Fairfield County, the Post said.

As he confirmed GE is looking at a possible move out of state, Immelt said, “We will always have a big presence in Connecticut.”

In addition to its headquarters in Fairfield, GE also has offices in Stamford and Norwalk as well as in locations upstate.

GE announced earlier this year that it might move its headquarters out of state after the General Assembly approved a budget that would allow Connecticut to levy taxes on corporate income that companies have previously attributed it to other jurisdictions.

Even as speculation continues over GE's fate, Gov. Dannel P. Malloy has engineered a very large tax break for the company, the Hartford Courant reported.

The measure gives special treatment to any company that had at least $6 billion in carried-forward losses by 2013 — notably GE — by allowing such a company to use a higher percentage of those losses to offset taxes, the Courant reported.

Read the full story about the Business Council event here at the Connecticut Post website.

Read the full story about the tax break here at the Hartford Courant website .

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