Malloy Fails to Impress GE in Last-Ditch Effort: Report

As Fairfield and the rest of the state anxiously awaits General Electric’s decision on whether it will stay or relocate its headquarters, the FOX Business Network reports Gov. Dannel P. Malloy “failed to impress” the company’s officials during his last-ditch effort to keep them in Connecticut.

While GE isn’t expected to make its final decision before the end of January, FOX Business cites people with “direct knowledge of the matter” that say Malloy’s December presentation was described as “lackluster” by GE officials.

FOX Business reports that the presentation increases the possibility that GE will move out of its Fairfield headquarters because it didn’t address all of the factors that CEO Jeff Immelt is considering in determining whether or not to relocate aside from Connecticut’s tax structure.

Related stories:

• GE Eyes Boston’s Seaport District for Potential HQ: Report
• Malloy: Negotiations with GE Are Continuing
• GE’s Chances of Staying in CT Increase: Malloy
• Malloy Engineered ‘Huge’ Tax Favor For GE: Report
• CEO Says GE Will Always Have ‘Big Presence’ In CT As HQ Search Continues: Report

A GE spokesman told FOX Business that the company’s exploratory team is “currently engaged in the process and is taking many factors into consideration” regarding possible relocation and when “there is a final decision on relocation, we will communicate it publicly.”

GE has been weighing its options about relocating from its Fairfield headquarters ever since Immelt expressed frustration over Connecticut’s new business tax increases in June. But the General Assembly recently passed a bill in a special session that rolled back some of the changes that alarmed businesses.

The short list of finalists for GE have reportedly been the Greater New York area, Boston and Rhode Island, in addition to staying in Fairfield.

Read the full FOX Business Network report here.