Ivory Ella bringing 40 jobs to Westerly while saving the elephants
WESTERLY, R.I. — The Rhode Island Commerce Corporation Board of Directors and Governor Gina M. Raimondo attract a company from Connecticut to Westerly, support the rehabilitation of an old mill into a mixed use development, and support the construction of a new hotel in downtown Providence. The projects moving forward are aided by Rebuild Rhode Island Tax Credits, a tax increment financing arrangement, and tax credits under the Qualified Jobs Incentive Tax Credit Program.
“Companies are choosing to relocate and grow in Rhode Island because our state is a great place to live, work, and do business,” said Governor Gina M. Raimondo. “With today’s announcements, we continue to send a clear signal that Rhode Island is on the move.”
“Today’s action by the Commerce Corporation will help jumpstart construction projects and create jobs for Rhode Islanders,” said President of the Senate M. Teresa Paiva Weed. “Working together, with strong leadership in the Governor’s office and at the Commerce Corporation, we are focused on putting Rhode Island on the path to economic prosperity.”
“The projects announced today demonstrate that our economic development tools are continuing to bring new jobs and new investment to our state,” said R.I. Commerce Secretary Stefan Pryor. “Rhode Island is a vibrant place to do business and companies ranging from social enterprises to national hotel chains are taking notice.”
Ivory Ella, a socially-minded online retailer, will relocate 40 of its current jobs, 19 of which qualify under the Qualified Jobs Incentive Tax Credit program, to Westerly from Connecticut. The company has committed to expanding by at least 20 new jobs over the next three years, 11 of which will qualify under the program.
This will bring a cumulative total of 60 jobs, 30 of which qualify under the program, by the end of 2018. The Board approved approximately $362,055 in tax credits under the Qualified Jobs Incentive Tax Credit Program for Ivory Ella.
READ MORE of this story in Rhode Island Governor Gina Raimondo’s Press Release.
Photo courtesy of Ivory Ella.