General Electric expects to announce headquarters decision in January

General Electric Co (GE.N) expects to announce a decision next month about whether it will move its headquarters out of Connecticut, a spokesman said on Sunday.

GE Chief Executive Jeff Immelt had previously said the U.S. conglomerate planned to decide the future of its headquarters, now based in Fairfield, by the end of the year.

GE has been weighing a move out of Connecticut since the summer, when lawmakers passed a budget that included $1.2 billion in tax increases despite protests from some of the state’s biggest corporations.

Earlier this month, Connecticut lawmakers cut $350 million from the state budget and reduced corporate taxes to thwart criticism that the state is unfriendly to business.

The company has not specified what other locations it may be considering.

(Reporting by Lewis Krauskopf in New York- Editing by Diane Craft)