#40 Rhode Island
From the Governor
“Infosys is a global leader in information technology, and I’m so excited that they’ve chosen Rhode Island as the home of their new innovation center…In partnership with RISD and CCRI, Infosys will be helping train today’s Rhode Islanders for tomorrow’s jobs. Our state has some of the top designers in the world, and it’s a testament to the strength of our workforce that Infosys is looking to tap into and further develop our talent.” —Gov. Gina M. Raimondo
Winds of Opportunity
The Ocean State may be small, but it has renewed economic enthusiasm by attracting big investments in the past year. New wind power projects are blowing in new opportunities, and Infosys announced in early 2019 it will launch its Design and Innovation Center in Providence. Rubius Therapeutics, Amgen and Boston Energy have also initiated expansions here.
Rhode Island Commerce Corporation
Greater Providence Chamber of Commerce
Qualified Jobs Incentive Tax Credit: Offers up to $7,500 per job per year for up to 10 years for companies that expand the workforce in or relocate jobs from out of state.
Rebuild Rhode Island Tax Credit: Offers to fill financing gaps with redeemable tax credits covering up to 30% of project costs for commercial office, industrial, residential, mixed-use development, ground up construction, or historic rehab for projects of at least $5 million.
Innovation Voucher Program: Offers up to $50,000 for companies with 500 employees or less to support R&D projects that commercialize a new product, process or service; support scale-to-market development or new expertise.
Rhode Island Commerce Corporation: commerceri.com
Rhode Island Division of Statewide Planning: planning.ri.gov/planning-areas/economic-development
Providence Economic Development: providenceeconomicdevelopment.net
Highlighted Program or Initiative
Supply Rhode Island connects local suppliers to the needs of larger institutions in the state (including Infosys, Amica Insurance, LifeSpan and CVS Health) and helps local businesses better understand their processes and needs. Participating organizations get access to prescreened local suppliers across purchasing categories along with matchmaking services through a concierge service.
- Rubius Therapeutics announced in June 2018 it will create 160 highly skilled jobs and acquire a manufacturing facility in Smithfield.
- Amgen broke ground in August 2018 on a $200 million biopharma plant. The project will add more than 150 jobs to the 625 people currently employed there full- time.
- Infosys announced in February 2019 it will launch the company’s new Design and Innovation Center in Providence.
- Wind turbine maintenance company GEV announced in June 2019 it had selected Rhode Island as the base for its new U.S. headquarters, and will create more than 125 jobs.
- Boston Energy announced in August 2019 it will create more than 50 jobs and establish its U.S. headquarters at the Cambridge Innovation Center in Providence.
Four Fortune 500 companies headquartered in the state:
United Natural Foods
Citizens Financial Group
“Rhode Island is vying to be a center of excellence for offshore wind in America. The geographical location and support offered by Governor Raimondo, Commerce Secretary Pryor and their teams has been critical to our decision in locating our U.S. Headquarters in Providence.” —Mark Parkes, CEO and President, Bostonair Group
“Biologics manufacturing is a complex science and has long been a competitive advantage for Amgen…. We are working to extend that advantage even further with a next-generation biomanufacturing plant in Rhode Island that will produce medicines to serve patients around the world suffering from serious illnesses.” —Robert Bradway, Chair and CEO, Amgen
“We are truly excited about setting up our base in Rhode Island where Governor Raimondo and Commerce Secretary Pryor’s welcome party and support for the industry has been incredible. As we gear up, there will be a tangible opportunity for Rhode Islanders to come and talk to us about the options for an exciting career in wind energy and join what is becoming one of America’s fastest growing industries.” —Daniel Boon, U.S. General Manager, GEV Wind Power US