RI Economic Board to Vote on Grants to Woo Company

Posted by jcashman

PROVIDENCE, R.I. (AP) — The board of the state’s Economic Development Corporation is set to vote on $1 million in energy assistance grants for Toray Plastics (America) as it tries to encourage the company to expand in Rhode Island.

The vote is scheduled for Monday. The Providence Journal (http://bit.ly/nzrRfM) reports the package is among the incentives the state’s considering to keep Rhode Island affordable for Toray.

Toray currently employs about 600 people at Quonset Point and is considering expansions that could add 230 jobs.

Chief executive Richard Scholoesser has said he wants to expand in Rhode Island, but he’s worried about the high cost of business and has been approached by other states.

A spokeswoman for the Economic Development Corporation said it’s not unusual to offer grants to companies that expand in state.


Information from: The Providence Journal, http://www.projo.com/


Copyright 2011 The Associated Press.


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Short URL: http://www.newenglandpost.com/?p=1625

Posted by jcashman on Aug 21 2011. Filed under Business, Top Stories. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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