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Why GE Is Paying $57 Million To The French Government

The General Electric logo at a store in Cranberry Township, Pa. in 2014. (Gene J. Puskar/AP)
The General Electric logo at a store in Cranberry Township, Pa. in 2014. (Gene J. Puskar/AP)

In 2015, General Electric purchased the energy and power side of the French multinational company Alstom for $10.6 billion. But according to the French Finance Ministry, GE didn't make good on all aspects of that deal.

The French government says GE was supposed to create 1,000 new jobs. In three years, how many did it actually add? Just 25.


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So Boston-based GE will put $57 million into a French government-operated fund to boost industry, according to a statement from French Finance Minister Bruno Le Maire. The statement also said GE plans to develop its renewable energy division in France.

A GE spokesman said Tuesday the company "did its utmost to create jobs and meet its contractual commitments" in a difficult market.

In 2016, GE promised to bring 800 workers to Boston as part of a deal to relocate its corporate headquarters to the Seaport District. Currently, about 235 people are working in an interim office while the company renovates two buildings expected to open later this year.

Elisabeth Harrison Twitter Managing Editor For News Content
Elisabeth Harrison is WBUR’s managing editor for news content with a focus on business, health and science coverage.

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