Rubius Therapeutics Designing Pharmaceutical Facility in Smithfield, Rhode Island
10/04/2018
Once completed, the 135,000-square-foot facility will support 160 new, high-skilled jobs in manufacturing, biotech operations and other support functions. Rubius plans to invest up to $155 million over about five years to renovate an existing building in Smithfield.
Rubius Therapeutics is a biotech company that focuses on the development of lab-created red blood cells. Rubius genetically engineers cells to fight a wide range of diseases, including cancer and autoimmune diseases.
"Critical to Rubius Therapeutics' success in bringing our Red Cell Therapeutics to patients is the ability to manufacture large quantities of our treatments and to ensure these medicines are ready as soon as patients may need them," said Rubius Therapeutics CEO Dr. Pablo J. Cagnoni.
"The Rhode Island Commerce Corporation and Governor Raimondo have an impressive and growing track record of attracting top biotechnology companies and creating high paying jobs. I am happy to be able to say that Rubius Therapeutics is now a part of this booming ecosystem of biotechnology innovation,” he added.
In June, the Board of the Rhode Island Commerce Corporation approved tax credits through the Rebuild Rhode Island Tax Credit Program and the Qualified Jobs Incentive Act to support the project. Once construction is complete, Rubius will receive approximately $2.75 million in Rebuild Rhode Island Tax Credits. They were also approved to receive Qualified Jobs tax credits totaling approximately $370,000 per year over 10 years. The credits will only be paid out after the jobs are created and employees have paid income tax for a full year. Rubius will also be eligible for a sales tax rebate on construction materials.
"Thanks to our investments in economic development and skills training, Rhode Island's biotechnology industry is on the rise," said Governor Gina M. Raimondo. "Rubius is a leader in their field, and I'm thrilled that they're investing in our state and creating 160 good-paying jobs here in Smithfield."
"We are very pleased that Rubius Therapeutics has broken ground on its new advanced manufacturing facility," said R.I. Secretary of Commerce Stefan Pryor. "Rubius joins companies such as Amgen, Johnson & Johnson, and EpiVax in our flourishing bioscience ecosystem."
Project Announcements
PEAK Precision Manufacturing Plans Bowling Green, Kentucky, Operations
07/26/2024
Italy-Based Sipcam Agro USA Upgrades Wayne County, Mississippi, Operations
07/26/2024
Cleveland-Cliffs Plans Weirton, West Virginia, Operations
07/26/2024
IDEXX Laboratories Plans Wilson, North Carolina, Production Operations
07/26/2024
Germany-Based Ritz Instrument Transformers Plans Waynesboro, Georgia, Operations
07/26/2024
AirJoule Plans Newark-Wilmington, Delaware, Operations
07/26/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The CHIPS and Science Act will bring jobs back to the United States
Q2 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
The Bring Your Own Energy (BYOE) Party Is Starting
Q2 2024
-
Midwest becomes hotspot for semiconductor manufacturing and supply industries
Q2 2024