TD Bank gets helping hand from R.I. Economic Development Corp.

FILE PHOTO: TD Bank Rhode Island Market President Bob Kolb at the 'store' opening at 180 Westminster St. /
FILE PHOTO: TD Bank Rhode Island Market President Bob Kolb at the 'store' opening at 180 Westminster St. /
PROVIDENCE - TD Bank’s foray into the Rhode Island market got a helping hand from the R.I. Economic Development Corporation Thursday. The bank – a $134 billion U.S. subsidiary of Toronto-based TD Bank Financial Group - was granted up to $420,586 in tax breaks if it creates at least 160 new full-time jobs over the…

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4 COMMENTS

  1. As a long-time RI resident, I never noted a paucity of banks, credit unions and related financial service organizations in RI and always considered the state well served by and excellent inventory of top rate financial organizations. Thus I’m perplexed to read the RIEDC is providing support to a new bank (which is highly regarded in the national banking industry). What sort of similar support programs does EDC offer the existing RI field of financial providers? Does EDC offer similar incentives to the existing RI community banks to expand their branch and out-reach services? Just curious.
    Skip Mays, Northeast Promotions, Coventry, RI

  2. Another example of corporate greed and EDC countenanced it. TD Bank with assets in excess of $50 bill with the full knowledge of the state’s fiscal problems should be vilified instead of rewarded with project status for a paltry $421,000. And how about the jobs being created? I hardly think that part time and full time teller jobs lead to the road of prosperity. Now that precedence has been established that multi-billion asset banks qualify for project status even though they don’t need it, it behooves that all Rhode Island institutional lenders take notice and remember they qualify for consideration for this giveaway abused economic development tool. God knows they need it!

  3. Another example of corporate greed and EDC countenanced it. TD Bank with assets in excess of $50 bill with the full knowledge of the state’s fiscal problems should be vilified instead of rewarded with project status for a paltry $421,000. And how about the jobs being created? I hardly think that part time and full time teller jobs lead to the road of prosperity. Now that precedence has been established that multi-billion asset banks qualify for project status even though they don’t need it, it behooves that all Rhode Island institutional lenders take notice and remember they qualify for consideration for this giveaway abused economic development tool. God knows they need it!

  4. Another example of corporate greed and EDC countenanced it. TD Bank with assets in excess of $50 bill with the full knowledge of the state’s fiscal problems should be vilified instead of rewarded with project status for a paltry $421,000. And how about the jobs being created? I hardly think that part time and full time teller jobs lead to the road of prosperity. Now that precedence has been established that multi-billion asset banks qualify for project status even though they don’t need it, it behooves that all Rhode Island institutional lenders take notice and remember they qualify for consideration for this giveaway abused economic development tool. God knows they need it!