Home Economy Commerce Corp. grants tax agreement to Smithfield

Commerce Corp. grants tax agreement to Smithfield

R.I. COMMERCE CORP.’S board of directors on Monday unanimously approved an agreement to provide the Town of Smithfield $140,000 over 15 years, part of an incentive package to facilitate Massachusetts-based biotechnology firm Organogenesis Holdings Inc. And Boston-based The Davis Cos.’s $97.5 million redevelopment of the former Rubius Therapeutics facility at 100 Technology Way./SCREENSHOT OF LOOPNET.COM

PROVIDENCE – R.I. Commerce Corp.’s board of directors on Monday unanimously approved a $140,000 award over 15 years to the town of Smithfield to offset lost revenue from a local tax stabilization agreement being negotiated to bring a Massachusetts-based biotechnology firm to the former Rubius Therapeutics facility. Organogenesis Holdings Inc. plans to lease the facility

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