Updated at Noon, Nov. 27
PROVIDENCE – Infosys Ltd., the India-based technology services and consulting giant, with nearly 200,000 employees across the globe, is building what it says is a Design and Innovation Hub in Providence, according to an announcement Monday by Gov. Gina M. Raimondo.
The company expects to have created 500 jobs by 2022, among them designers, design architects, specialists in information design, and technical experts and consultants, according to a press release distributed at the announcement made by Raimondo at the Providence Public Library.
“The state’s education institutions, design-rich environment, and economic development tools positioned Rhode Island competitively for this type of specialized partnership,” said Infosys President Ravi Kumar in prepared remarks. The company plans to apply for incentives from the state, including through the Rebuild Rhode Island program, the Qualified Jobs Incentive Act and the First Wave Closing Fund, according the release.
The company is expected to receive tax credits up to $10 million. Most of the credits, up to $8.5 million, are expected in the form of Qualified Jobs Incentive tax credits.
The median salary for the incoming jobs coming to Rhode Island is $79,000 per year, according to the R.I. Commerce Corp.
Leaders for Infosys highlighted the company’s hiring practices, which focus on training its employees in technology skills rather than relying on an already trained talent pool. The result is that it hires high school graduates, college graduates and legacy technology workers.
At the announcement, Raimondo said the state reached out to Kumar through the business social media app, LinkedIn, which led to subsequent follow-ups.
The project is supposed to net $18 million in revenue for the state over 12 years and generate $62.8 million in annual Gross Domestic Product.
The company has not yet chosen a location for its offices, but Kumar that the company is actively looking at sites and will decide “soon.”
In his speech, Kumar said that he hopes to be “an ambassador of the state” to draw similar companies to the area.
Infosys made a commitment earlier this year to hire 10,000 American workers and plans to build Technology and Innovation Hubs in Indianapolis and Raleigh, N.C.
