Fort Point and the “Innovation District” is one of the hottest property markets in the world. There is no end to the number of firms that would like to locate there.
So, of course, the GE is going to be there at the giant cost of… rent free.
Courtesy of the Boston taxpayer.
In a city where rent is so high that there’s more homeless people living in it than in LA and almost every city in the country, we’re giving one of the country’s top 10 most profitable businesses a brand world new headquarters, rent free.
But, then, why should any of us be surprised? Our politicians already gave them $150 million in tax goodies, plus a brand new $100+ million free bridge.
Free rent is like peanuts in a deal like that.
The GE is one of the most powerful, profitable companies in the world — and they know paying for their share (any part of it, never mind a fair part) in a corrupt oligarchy like ours is for suckers.
They don’t care about what kind of message this sends or how this will rob Boston’s schools of millions, and apparently our elected leaders don’t, either.
Boston can watch as its homelessness spikes, schools shutter and people have to leave the city in droves, in a state that’s become ground zero for the country’s divide between the rich and poor.
For most of us, it’s worrying, or at least distressing.
But for the elites? They don’t have to worry about it. For them, it’s not an economic crisis — just a business opportunity.