Jobs Leave Massachusetts, As Gov. Raimondo Brings Company to Providence
Rhode Island’s Business-Friendly Climate Attracts Massachusetts Firm
Yesterday, Rhode Island Governor Gina Raimondo announced the arrival of Trade Area Systems, a firm formerly based in Gov. Charlie Baker’s Massachusetts.
Governor Raimondo had worked on a tax package to bring the company to Providence. Trade Area Systems plans to add eight jobs in addition to the 20 full-time employees already making the move.
Read the Associated Press report below:
A former Massachusetts-based company has moved about 15 miles across the state border after Rhode Island agreed to give it a $520,000 tax break.
Rhode Island Gov. Gina Raimondo attended a welcoming event Tuesday for Trade Area Systems, a real estate intelligence firm that relocated to downtown Providence from Attleboro, Massachusetts.
The company made the move after entering an agreement with the state Commerce Corporation last year. It was the first to benefit from a new program providing tax credits to companies that create new full-time jobs in Rhode Island. The estimated $520,000 would be over five years.
All 20 of its employees have relocated to Providence, and the company plans to hire eight more. The software company, founded in 2003, provides site-location data for property developers and major retailers.