French Company Tags After GE, Relocates North American HQ to Boston

It's only a matter of 50 new jobs, but the city sees momentum in news that French municipal water management company Veolia is following General Electric's lead and relocating the heart of its operations to Boston.

The company is shifting its North American headquarters to Boston from Chicago, a move formally announced by the company Tuesday morning.

Veolia currently employs 700 in Massachusetts with roughly 280 centered in Boston and Cambridge. It provides water, energy and sewer services to some 500 cities and 30,000 businesses, according to Veolia. Locally, it provides thermal energy to the central business district of Boston, the Longwood Medical Area, and the biotechnology corridor of Cambridge.

Its new corporate headquarters will be located at Veolia’s downtown Boston offices at 53 State St. Those 50 Chicago jobs will relocate here over the next five years.

Here's what North America CEO Bill DiCroce had to say about the reason for the move, as quoted in the Veolia press release:

“We believe that Massachusetts and the Greater Boston area, with its commitment to sustainability and growing a knowledge-based, innovation-driven economy, is a perfect fit with Veolia’s mission of ‘Resourcing the world.’ The region is an exceptional hub for talent, innovation and creativity, and it has a rock-solid commitment to sustainability. These qualities mirror the future we envision for Veolia as we develop new ways to meet today’s environmental challenges.”

In the same release, Boston Mayor Marty Walsh cast the move as "another signal that Boston is a thriving place to live, work and grow a dynamic business," and a boon to the city's clean energy and environmental solutions business.

>> Photo via Veolia