Two companies will create a total of at least 195 jobs in Rhode Island with help from the Rhode Island Economic Development Corporation (RIEDC). The organization's Board of Directors has approved incentives for Yardney Technical Products and Toray Plastics.
Yardney will relocate its operations from Pawcatuck, Connecticut, to East Greenwich, Rhode Island, creating 165 jobs. The project is estimated at $12.5 million, and will benefit from "Project Status," which qualifies the company for state sales tax rebates on construction and facility materials. Yardney produces batteries for the aerospace and defense industries in both the public and private sectors.
Toray will receive $750,000 from the RIEDC's Renewable Energy Fund to install 1,650 solar panels at its Quonset Point facility in North Kingstown, Rhode Island. The company will invest $16 million in the project and create more than 30 jobs.