What's not to like? General Electric Co. is opening a new technology center in Providence and has started the hiring process for the 100 jobs it expects to put here.
The decision to build a satellite office in Rhode Island after the multinational corporation moved its headquarters to Boston is not a chance happening. At the time that GE was looking to move out of Connecticut, Rhode Island was mentioned as a possible location for its new home. Few believed that was possible.
But clearly Gov. Gina M. Raimondo and staff took that small opening and started a significant wooing effort.
Of course, it's not just about talking a good game. If the company does deliver the jobs, which are expected to average more than $100,000 in annual salary, it will be eligible for $5.6 million in state incentives. And depending on the real estate deal, there could be more tax incentives coming from the city.
That Gov. Raimondo has been able to lure one of the world's most prestigious companies to come here is a feather in her cap. It also is validation of her approach, which includes targeted tax incentives with incremental but real changes in the cost of doing business here. At the same time, GE's choice validates the notion that we have a high-quality workforce and a significant quality of life here, too. Just as importantly, it likely will help other corporations look more kindly on the Ocean State.
Getting a state's economy moving in the right direction is not easily done. But victories like this one are one important way to get the ball rolling. •
