Without General Electric at Fairfield, Things Could Change for the Residents

Without General Electric at Fairfield, Things Could Change for the Residents Last week, General Electric said that it was moving its headquarters from Fairfield, Connecticut to Boston. The company said it will also move some of its employees. The coastal town's residents are now pondering over what this shift means for this town. People in this part will lose one of the biggest corporations in the world. It has almost eight hundred employees working at the headquarters.

Michael Brosnan, a consultant who bought a house in the town when he traveled from Manhattan some ten years ago for business meeting at G.E., said, "Certainly there will be a lot of homes for sale." He added, "I feel like local people will suffer."

Fairfield's average household income is more than the state average and it became an attractive destination since the time G.E. moved its headquarters in 1974 from New York City.

Good schools, friendly ambience, lower tax rates also attracted executives and currently Fairfield has almost 60,000 residents officially.

According to a company spokes person, about two hundred of the top executives and their staffs who work at the company and reside in Fairfield will move to Boston.

G.E plans to sell off its sixty eight acre property that's located on top of a hill close to Merritt Parkway along with the other offices in the town.

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