Gov. Gina Raimondo’s strategy of using tax credits to spur Rhode Island’s economic development could create nearly 1,500 new jobs promised by 17 companies that have signed deals with the state.
The Democrat’s efforts include some clear wins, such as new high-tech branch offices for General Electric, Johnson & Johnson and Virgin Pulse. But some state legislators are wondering if it’s time to scale back the incentives to meet other budget priorities.
The state Commerce Corporation has approved $30.7 million in the job-creation agreements since early 2016. The most recent was approved last week.
Democratic House Speaker Nicholas Mattiello says “you can’t keep giving those incentives out forever.” Republican House Minority Leader Patricia Morgan says subsidies would be better spent attracting a “whale” company rather than smaller 100-person branch offices.
Source: US News