GE Healthcare will relocate its American headquarters for its life sciences division to Massachusetts — a major move expected to create hundreds of jobs, coming on the heels of similar arrivals in redent years by Sanofi-Aventis and Pfizer.
"GE is not a leader here — they're following the other large firms here in order to be close to where the action is," said Barry Bluestone of Northeastern University, who co-wrote a report last year on the Bay State's life sciences industry. "It continues quite a trend."
The company's current life sciences headquarters in Piscataway, N.J., employs about 400 people, and a spokesman would not say which area of the state it is considering.
"A project is currently underway to create a new U.S. headquarters in Massachusetts for the life sciences division of GE Healthcare," said GE Healthcare spokesman Benjamin Fox. "More specific details will be available once they are finalized. Once completed, the new U.S. life sciences headquarters will create a significant number of new jobs and economic activity in Massachusetts."
Gov. Deval Patrick has made promoting the life sciences industry in the state a focus over the years. Bluestone said that, coupled with an influx of smaller, highly specialized firms, has been a magnet drawing larger companies.
"Even with the billions of dollars they spend on research, the large firms aren't sure they'll come up with a big breakthrough in life sciences technology," said Bluestone. "Therefore, they want to be near small firms on the cutting edge."
Massachusetts Life Sciences Center CEO Susan Windham-Bannister told the Herald the organization had been in discussions with GE Healthcare over the past two years about a move.
"We're talking about a company that's more diversified, has a big imaging component to it, and a big bioinformatics component," she said. "This is a different kind of company. We're really excited about that. They've certainly had a modest presence in Massachusetts, but for them to make this decision is big."
The 2013 report for the Boston Foundation, conducted by Bluestone and Alan Clayton-Matthews of Northeastern, found the state's life sciences industry growing at a faster pace than any other industry in Massachusetts — and creating more jobs than in any other state since 2008.
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