Forbes: “How Rhode Island Is Sparking Another Industrial Revolution”
RI Business Monthly | September 2018
Rubius to invest $155M in new R.I. facility
Amgen breaks ground on expansion project
Forbes: How Rhode Island Is Sparking Another Industrial Revolution
Opportunity Zones in Rhode Island
Rubius Therapeutics Chooses RI for Manufacturing Plant
Rubius Therapeutics recently announced plans to establish a manufacturing facility in Rhode Island that will create 160 high-skilled jobs in manufacturing, biotech operations, and other support functions.
Rubius Therapeutics is developing a revolutionary and diverse pipeline of treatments, using red blood cells as the primary delivery mechanism.
The company intends to invest up to $155 million over a more than five-year period to renovate a 135,000-square-foot manufacturing facility.
Amgen’s “Next-Generation” Facility Plants Roots in RI
In July, Amgen broke ground at its new next-generation biomanufacturing plant to be constructed at its West Greenwich, R.I. campus.
The new plant is the first-of-its-kind in the U.S. and will use Amgen’s proven next-generation biomanufacturing capabilities to manufacture products for the U.S. and global markets, and produce approximately 150 new highly-skilled manufacturing jobs.
Qualified Opportunity Zones are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide.
All 25 areas that Gov. Gina M. Raimondo and the RI Commerce Corporation submitted for designation as Qualified Opportunity Zones were approved by the U.S. Department of the Treasury and the Internal Revenue Service in May.
U.S. Treasury Secretary Steven T. Mnuchin had this to say about the program: “Attracting needed private investment into these low-income communities will lead to their economic revitalization and ensure economic growth is experienced throughout the nation.”
For more information, and a list of the approved areas, click here.
This month, we are leading a new trade mission to the UK’s “Northern Powerhouse” – the cities of Edinburgh, Leeds, and Manchester.
This trade mission, organized by Rhode Island Commerce Corporation, the Chafee Center for International Business at Bryant University, and the US Commercial Service, has been designed to kick-start commercial relationships and trade between Rhode Island and UK companies and assist with market entry strategies and research. Many Rhode Island companies, such as Mearthane Products Corporation (named SBA ‘Exporter of the Year’) have benefited and grown as a direct result of trade missions such as these.
For more information, contact: Katherine Therieau, Director, International Trade Programs, (401) 278-9139, Katherine.Therieau@commerceri.com.
WHERE ARE YOU?
See what companies like Infosys and Virgin Pulse saw in Rhode Island at:www.WhereAreYou.us
