PROVIDENCE – The R.I. Commerce Corp. Investment Committee has filed a meeting notice for Friday in which it will consider the application of Immunex Rhode Island Corp., a subsidiary of Amgen Inc., for incentives under the Qualified Jobs Incentive tax credit and the Rebuild Rhode Island tax credit programs for the creation of an approximately $165 million manufacturing facility in Rhode Island.
No details of Immunex’s incentives request could be provided Thursday, but the project will be introduced and discussed Friday morning, as will its specific location.
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The investment committee is also considering a tax stabilization incentive to West Greenwich, where Immunex Rhode Island is currently located.
A Commerce RI spokesman said that all items on the committee’s agenda, including the West Greenwich TSI, are related to a single project.
According to Commerce RI, TSIs incentivize Rhode Island municipalities to enter into tax stabilization agreements by reimbursing municipalities up to 10 percent of tax revenue foregone due to the completion of a TSA that spans at least 12 years. Qualifying projects must be at least $10 million and create 50 jobs.
The investment committee meeting will take place at the offices of Commerce RI at 9 a.m. Friday.
Chris Bergenheim is the PBN web editor.
