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Panel approves qualified-jobs tax credit for Saab Inc., company commits to 45 jobs
Summary
The Rhode Island Commerce board approved qualified-jobs tax credits for Saab Inc., which has committed to 45 full-time jobs in Bristol over five years; staff estimated tax credits of about $1,000,000 over a 10-year period.
The board approved a qualified-jobs tax-credit award to Saab Inc., which staff said has a small existing footprint in France and plans to expand into Bristol's Unity Park. "They have committed to 45 jobs over 5 years," a staff presenter told the board, and staff estimated the tax-credit value at about $1,000,000 over a 10-year period.
Board members asked for project context and acquisition timing; staff said the company was acquired about 3.5 years ago and emphasized the project was intended to anchor a developing "blue economy" hub at Unity Park. The chair moved approval and the motion passed on a voice vote with no recorded opposition.
