Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Board approves tax-credit award to bring Blount Fine Foods headquarters back to Warren
Summary
The board approved a Qualified Jobs Incentive Act award to Blount Fine Foods Corp to relocate headquarters to Warren, supporting about 120 professional jobs and an estimated $3.32 million in qualified-job credit value over 10 years.
The Rhode Island Commerce Corporation board voted to approve a Qualified Jobs Incentive Act tax-credit award to Blount Fine Foods Corp, a company relocating operations back to Warren.
Jeff Elugo, who introduced the proposal to the board, said the move will be "a very happy day for Rhode Island," noting the company plans to shift roughly 120 professional employees and about nine manufacturing positions to Warren. He told the board the applicants previously received a $1,000,000 award for facility renovations and that the average salaries for the returning positions exceed $76,000 a year.
Staff estimated the qualified-jobs credit value at about $3.32 million over a 10-year period. After brief board discussion and a motion, the board approved the award by voice vote. The motion passed with no recorded opposition.
The action followed a staff presentation about the company's history in Rhode Island and plans for headquarters functions and test kitchens in Warren. Board members thanked the presenters and congratulated the company on the expected expansion.
