Company to create manufacturing jobs in Rhode Island
Posted on May 28, 2018
Several companies are growing and creating more manufacturing jobs in Rhode Island.
State officials said partnerships were approved with four companies bringing a total of more than 2,000 permanent jobs, $800 million in private development and more than 1,000 construction jobs to Rhode Island. Over 15 years, these four projects will add $118 million in new net revenue to the state.
“We’ve come a long way in the last three and half years. In 2014, we had the nation’s highest unemployment rate. Today, there are more jobs in Rhode Island than ever before and more Rhode Islanders working than any time in the last decade,” said Governor Raimondo. “The progress we’ve made since 2014 hasn’t been an accident. We made a tough choice to totally revamp our approach to job training and economic development. Today, four more companies are choosing to invest in Rhode Island and hire thousands of Rhode Islanders at every level. We will keep going and keep working until every Rhode Islander is included in our comeback.”
Infinity Meat Solutions, LLC will create 700 new food manufacturing and distribution jobs in Rhode Island. The company plans to build a new $100 million, 200,000 square foot processing facility which will support hundreds of additional construction jobs.
Governor Raimondo also announced that iXblue, a maritime navigation manufacturer, is moving more than 20 jobs to Rhode Island from Massachusetts. After jobs are created in Rhode Island, the company will be eligible for an estimated $100,000 in Qualified Jobs incentives each year for up to 10 years. (add)ventures, an established Rhode Island marketing and communications firm, is expanding and hiring additional staff. The company will be eligible for an estimated $26,000 in Qualified Jobs incentives for up to 10 years. The Commerce board also approved investments in Electric Boat’s facilities at Quonset Business Park that will allow Electric Boat to accelerate the hiring of 1,300 new employees. Electric Boat’s $700 million expansion at Quonset is the state’s second-largest PLA.
Infinity Meat Solutions is a subsidiary of Retail Business Services, a services company of Ahold Delhaize USA. Infinity is eligible for an average of approximately $948,000 in Qualified Jobs incentives each year for up to 10 years beginning when the company reaches certain hiring benchmarks and employees are paying Rhode Island income taxes. In addition, the company is eligible for $1.9 million in Rebuild RI tax credits to support the construction of its new facility and a sales tax rebate on construction materials purchased in Rhode Island. In all, Infinity Meat Solutions’ decision to expand in Rhode Island will add nearly $60 million of activity to Rhode Island’s economy each year and generate more than $10 million in additional state revenue over the next 10 years.