PROVIDENCE, R.I. (AP) - A proposed technology center in Providence has been approved for its last set of state incentives.
The Providence Journal reports (https://bit.ly/2pTLm2R ) the Wexford Science & Technology Innovation Center was approved Monday by the Rhode Island Commerce Corporation for another $13.5 million in incentives. Pending incentives for the complex now total $37.5 million.
Officials expect the $158 million project to generate $100 million in revenue for the state over the next two decades. The complex has lease commitments from Brown University and the Cambridge Innovation Center.
Former Gov. Lincoln Chafee has criticized using state tax subsidies for the project.
Democratic Gov. Gina Raimondo says similar tax incentives are used by other states and that this effort is how she plans to improve the state economy.
Construction is scheduled to start in August.
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Information from: The Providence Journal, https://www.providencejournal.com
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