Commerce RI to consider Qualified Jobs Incentive for Epiq Systems to establish data science division in R.I.

Updated at 11:14 a.m.

THE R.I. COMMERCE CORP. board of directors will consider an investment committee recommendation to issue a Qualified Jobs Incentive Tax Credit to Epiq Systems to create a data science division in Rhode Island. The incentive would create at least 25 jobs at a median salary of $110,000. Above, Jesse Saglio, president of Commerce RI. / PBN FILE PHOTO/MICHAEL SALERNO
THE R.I. COMMERCE CORP. board of directors will consider an investment committee recommendation to issue a Qualified Jobs Incentive Tax Credit to Epiq Systems to create a data science division in Rhode Island. The incentive would create at least 25 jobs at a median salary of $110,000. Above, Jesse Saglio, president of Commerce RI. / PBN FILE PHOTO/MICHAEL SALERNO

PROVIDENCE – The R.I. Commerce Corp. board of directors is scheduled to meet Monday evening to discuss and consider tax incentives, Innovation Campus committee members and a bond issuance to Ocean Community YMCA.

Among the items on the agenda is the consideration of Qualified Jobs Incentive Tax Credits for Epiq Systems Inc., a legal-services company that contracts with corporations, financial institutions and government agencies, to establish a data science division in Rhode Island.

The company is proposing to create 25 new full-time jobs in Rhode Island with an anticipated median salary of $110,000. The jobs would be a range of data analysts, process engineers and data scientists.

On Friday, the Commerce investment committee recommended to the board of directors the tax incentives be granted.

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The credits are estimated to be worth $1.21 million over 10 years, according to Commerce spokesman Matt Sheaff Monday. He also said a third-party analysis projected the state would receive a net increase of $2.1 million in personal income, sales and business corporation taxes resulting from the new hires over the 12 years Epiq would be required to maintain the jobs. The credits would not be awarded until jobs are created and generating state income-tax withholdings.

Annual gross domestic product in Rhode Island is projected to increase $7.1 million when the positions are filled.

Epiq is headquartered in Atlanta, but has more than 80 offices in the U.S. and internationally as well as 12 data centers worldwide.

A location for the potential data science division has not been determined yet, according to Commerce.

On Monday evening, the Commerce board of directors is also considering three recommended Innovation Vouchers:

  • $50,000 for MindImmune Threpeutics Inc.
  • $49,989 for CREMedical Corp.
  • $40,574 for Mearthane Products Corp.

Chris Bergenheim is the PBN web editor.

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