GE opening tech center in Providence
By News Staff
General Electric is opening a technology center in Rhode Island.
Governor Gina Raimondo made the announcement Thursday.
The company plans to open the GE Digital information technology center in Providence, where they will develop new software applications. They plan to use the Rhode Island location to advance their digital and Industrial Internet platforms.
Jobs will include experienced engineers and data scientists, as well as young professionals with backgrounds in data, design, and IT. "One of America’s greatest companies has chosen to invest here and grow here," said Raimondo. "This is going to open people’s eyes to what’s possible in Rhode Island."
"We needed a place that had a strong tech talent pipeline, top-tier university partnership opportunities and great quality of life. With its unique location along the northeast corridor, Rhode Island gives us access to many of the assets we need for success," said Chris Drumgoole, vice president and chief technology officer.
The state offered up $5.65 million in tax breaks and other incentives over 10 years to attract GE to come, according to Commerce Secretary Stefan Pryor. The Fortune 500 Company must hire at least 100 people to qualify for this funding.
GE has over 300,000 employees and $115 billion in revenue. They say they intend to apply for incentives through the Commerce Corporation under the Qualified Jobs Incentive Act and the First Wave Closing Fund.
Critics, meanwhile, are calling the tax breaks "corporate welfare.
"I think we should be moving more in the other end towards free market capitalism," explained Rep. Blake Filippi, (I) District 36. "It attracts capital because of our tax structure, our regulatory structure."
Rep. Doreen Costa, (R) District 31, said she wants to make it so GE’s jobs will only go to Rhode Islanders. "My concern is we can’t continue to give tax breaks to fortune 500 companies to come into the state when we’re nickel and diming every single mom and pop store in the state of Rhode Island," she added.
The company hopes to employ 100 people in the near term, with the aim of expanding later.
© WLNE-TV 2016
