Congratulations to the Rhode Island Economic Development Corporation – honored last week by Business Facilities magazine for having completed one of the biggest business development projects of 2001.
The award-winning deal, a $433 million project that will see the Seattle-based Immunex renovate and expand existing facilities here in West Greenwich, is ranked behind only an $800 million Pfizer project in Michigan and a $700 million project involving LSP/PikeEnergy in Mississippi.
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These three deals, plus another involving a $375 million Ford Motor Company project in Virginia, will all be featured in the magazine’s December issue.
The Immunex project is expected to add up to 350 employees to its existing Rhode Island workforce. And when the project is completed, the company’s estimated total workforce of 700 could generate $500,000 annually in state income taxes — escalating to $1 million in income taxes by 2004.
The Immunex deal is tangible evidence that the country’s smallest state is capable of securing big business deals. That’s not news to us, but it is a good message to deliver to the readers of Business Facilities, primarily business executives who are responsible for expansion and/or relocation of their companies.
“That Rhode Island has landed one of the top three business development deals in the nation this year is something that should make every Rhode Islander proud,” said Tom Schumpert, RIEDC’s executive director.
Not only proud, but also excited about future possibilities. The Immunex deal can now be used by RIEDC officials as an important recruiting tool. It is clearly evidence that an impartial observer – Immunex – has not only discovered the beauty of Rhode Island and experienced the ease with which you can get in and out of the area, but also has confidence in the Rhode Island workforce.
Such a positive message couldn’t be delivered at a better time.
