GE Healthcare announced Monday the company is moving its global headquarters from the U.K to Chicago.
The General Electric subsidiary said the move will allow its leadership to be closer to operations in Chicago and Milwaukee.
“We are excited to strengthen GE’s roots in Chicago, where we will continue our focus on being the leading provider of outcome-based solutions for the healthcare industry,” said John Flannery, President and CEO of GE Healthcare. “Chicago has a rich industrial heritage, terrific international transportation links and is close to some of the world’s leading healthcare and academic institutions. It is also ideally located for many of GE Healthcare’s operations.”
Mayor Rahm Emanuel said in a statement that the move is “a tremendous win for the state of Illinois.”
“GE Healthcare will help grow the economy in Illinois by investing in our communities and building Chicago's reputation as a global business hub,” Emanuel said in a statement. “GE Healthcare joins a preeminent life sciences industry in Illinois and I am happy to welcome them to their new home.”
The move comes as the city faces economic struggles, including a budget stalemate that has deadlocked the state government for seven months.