In 1893, C.F. Samms and J.B. Wantz founded Victor Electric Company in Chicago. In 1896 — one year after Roentgen discovered X-ray — the company got involved in manufacturing X-ray machines. In the early 1920's Victor Electronic was acquired by General Electric and ultimately became GE Healthcare.

Whatever the factors were that informed the company's decision to base itself out of Chicago, Flannery has stated that city officials did not offer tax incentives to help finance the move or otherwise sweeten the pot. Instead, according to the Chicago Tribune, he attributes the decision to being geographically closer to its largest market.


All told, fewer than 200 jobs are expected to be directly involved in the transition, but those that are will be working at 500 Monroe St. in a space currently occupied by GE Capital in downtown Chicago's West Loop.

For Rahm Emanuel, mayor of the City of Chicago, bringing in a company that employs 51,000 people worldwide and reported revenue of $18.3 billion in 2014, represents a vote of confidence in Chicago’s economic future.

"In relocating, GE Healthcare sees several fundamental strengths in Chicago – from our talent to our transportation – that will help them build a great future and remain on the industry’s cutting edge," he said.

On January 13 it was also announced that GE Healthcare's parent company, General Electric, would be moving to Boston.

The Wall Street Journal reported that officials in Massachusetts said Wednesday they had offered incentives worth up to $145 million to the conglomerate. GE — which has been based in Fairfield, Connecticut since 1974 — has promised to bring roughly 800 jobs to Boston.

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