State creates Rhode Island manufacturing jobs

Posted on January 9, 2016

The state has used a new initiative to create Rhode Island manufacturing jobs.

The Rhode Island Commerce Corporation gave the unanimous approval Greystone of Lincoln, Inc. to enter into the first Qualified Jobs Incentive Tax Credit agreement, which will lead to the creation of 25 manufacturing jobs.

“The Qualified Jobs Incentive Act is beginning to make it easier for businesses to grow here,” said Raimondo. “By choosing to expand in Rhode Island, Greystone is helping us improve our economy by adding high-quality manufacturing jobs. We look forward to continuing to work with the General Assembly to find more ways to support companies like Greystone to grow and thrive in Rhode Island.”

“This announcement is exactly the type of company I was hoping to assist when I proposed the job incentive program. I am confident this will be the first of many businesses that will take advantage of these new resources in order to create good-paying jobs for Rhode Islanders,” said K. Joseph Shekarchi (D-Dist. 23, Warwick), the House sponsor of the job creation incentive.

Greystone is a manufacturer of high volume, precision computer numerical control (CNC) tuned parts, with an 83-year Rhode Island legacy. Currently employing 226 associates in Lincoln, RI, they are proposing to hire 25 new, full-time, employees with a median annual salary of $52,000 and expand one of its facilities by approximately 10,000 square feet to accommodate new machinery and staff.