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Immelt: GE Will Decide Whether To Leave Connecticut By Fourth Quarter

The General Electric team studying a possible move of the company's headquarters out of Fairfield will make a decision by the fourth quarter of the year, CEO Jeff Immelt told CNBC, according to NBC Connecticut.

GE CEO Jeffrey Immelt lives in New Canaan.

GE CEO Jeffrey Immelt lives in New Canaan.

Photo Credit: GE

GE, which has been headquartered in Fairfield for 40 years and employs 800 people across the state, has been threatening to move because of its unhappiness with Connecticut's business climate and increases in state corporate taxes due in 2017.

Four Westchester locations have been cited as possible venues for GE: Somers, White Plains, Armonk and Yonkers.

Real estate leader William Raveis said GE is a selling point and it would hurt Connecticut if the corporate giant were to move, NBC Connecticut reported. He said it could takes years for the residential real estate market and the corporate climate to recover, NBC said. 

Read the full story here at the NBC Connecticut website.

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