General Electric (GE) is maintaining a presence in Boston but faces mixed performance due to restructuring, sector-specific challenges, and strategic shifts. While its healthcare division, GE Healthcare, remains a key contributor with investments in innovation, the company’s overall operations in Boston are smaller compared to its historical scale.

GE’s Boston operations are heavily focused on healthcare and renewable energy. GE Healthcare, a major employer in the region, reported $9.8 billion in revenue in 2023, with Boston-based R&D centers contributing to medical imaging and AI-driven diagnostics. However, the division’s growth has slowed due to competitive pressures from rivals like Siemens Healthineers and Philips. In renewables, GE’s wind turbine division, GE Renewable Energy, has expanded in Boston’s tech ecosystem, securing partnerships with local universities and startups to develop carbon capture and smart grid technologies.

Financially, GE’s Boston-based entities remain profitable but account for a smaller share of the company’s global revenue, which fell to $31.5 billion in 2023—a 15% decline year-over-year. The company has also reduced headcount in Boston by 12% since 2021, reflecting a shift toward cost efficiency. Notably, GE’s aviation division, historically significant in Boston, has seen reduced activity due to industry-wide supply chain disruptions. However, the company’s commitment to Boston’s innovation corridor persists, with plans to invest $200 million in a new advanced manufacturing hub by 2026, focusing on additive manufacturing for healthcare devices.

Data sources include GE’s 2023 annual report, Boston Business Journal, and SEC filings. While GE’s Boston operations are not its primary engine, strategic investments in healthcare and renewables position it to leverage the city’s tech and sustainability networks.