GEV Wind Power to build US Headquarters in Rhode Island
RI Business Update | June 2019
Rhode Island to be U.S. Headquarters for GEV Wind Power
Orsted signs MOU with Rhode Island
eMoney Exceeds Hiring Goals
Report: RI Has Lowest Combined Corporate Tax Rate in New England
New Opportunity Zone Regulations Announced
Rhode Island to be U.S. Headquarters for GEV Wind Power
At a recent board meeting, Governor Gina Raimondo announced that GEV Wind Power,one of the largest wind turbine maintenance companies in the world, will make Rhode Island the home of its U.S Headquarters.
GEV Wind Power will create approximately 125 jobs consisting of blade technicians, support staff and management.
Commerce Secretary Stefan Pryor,Ørsted CEO Henrik Poulsen andØrsted Wind Power CEO Martin Neubert recently inked a Memorandum of Understanding that outlines global wind leader Ørsted’s commitment to Rhode Island.
The MOU includes commitments to improve Rhode Island’s ports and workforce development programs.
With US operations in Providence, Ørsted plans to build an 85-turbine wind energy farm in federal waters off the Rhode Island coast by 2023. Read the story
To learn more about the state’s offshore wind efforts, visit our new wind website here.
Pictured above, Martin Neubert, Orsted Wind Power CEO, Stefan Pryor, Henrik Poulsen, and Hilary Fagan, Vice President of Business Development, Commerce RI.
eMoney Exceeds Goal to Hire 100 by 2020
eMoney, a leading provider of technology solutions and services that help people talk about money, has hired more than 100 employees since opening an office in Providence in 2017.
“We originally thought we would be aggressive and hire 100 people by 2020. Today we stand here with 110 people,” eMoney CEO Ed O’Brien said.
O’Brien was joined by Rhode Island Governor Gina Raimondo members of the Rhode Island Commerce Corporation and local community officials at the grand opening of eMoney’s newly-expanded office located on the sixth floor of 100 Westminster in downtown Providence.
Rhode Island has Lowest Combined Corporate Tax Rate in New England
As reported by Providence Business news, Rhode Island ranked as having the lowest combined state and federal corporate income tax rate in New England as of July 1, 2018.
Rhode Island’s Opportunity Zone website, now includes new information on the recently-released federal regulations.
The Resources section of the website houses updated information on the second tranche of IRS guidance, detailed explanations of the changes to the program, and key groups taking action on Opportunity Zones.
For more information, visit the Opportunity Zone website here
