On the heels of news that General Electric plans to reimburse $87 million in incentives associated with relocating its headquarters to Boston, a state senator is calling for those funds to be reinvested in Massachusetts vocational schools.

State Sen. Eric Lesser, newly reappointed as co-chair of the Economic Development and Emerging Technologies Committee, said Friday his office is drafting a bill that would steer the money into vocational education once it is returned to the state. Lesser, a Longmeadow Democrat, said vocational schools have “massive” waitlists, but give students a pathway to steady middle-class jobs in fields like precision manufacturing and carpentry and provide employers with trained workers.

“This feels much more directed at where the actual challenge is,” Lesser said. “A corporate headquarters for a company that will likely park those payments on Wall Street or give them out as dividends to shareholders, most of whom do not even live in Massachusetts or anywhere near Massachusetts, to locate in place that is booming anyways – for the families I represent in Western Massachusetts, that’s an insult.”

GE still plans to set up its headquarters in Boston’s Fort Point neighborhood, but on a smaller scale. MassDevelopment on Thursday approved a plan for GE to reimburse the agency $87 million in incentive costs incurred to date associated with the move. The reimbursement will follow the sale of state and GE land in Fort Point. Separately, Amazon on Thursday pulled out of a deal to build a second headquarters in New York City.

“I think the time’s up – you see what happened with Amazon in New York – time’s up on handouts to these mega-corporations that try to shake down communities for incentives when you’ve got a lot of local businesses, a lot of family businesses and a lot of local people in our workforce who need help,” Lesser said.