- Associated Press - Thursday, August 11, 2016

PROVIDENCE, R.I. (AP) - The Rhode Island Commerce Corporation has approved $1.9 million in economic incentives to help a tea and coffee extracts business expand in North Kingstown.

The Providence Journal (https://bit.ly/2aVoAzi ) reports the incentives package approved Wednesday by the corporation’s board of directors would aid a plan by Finlay Extracts & Ingredients USA to build a $54.3 million research, development, manufacturing and distribution facility in Quonset Business Park.

The London-based firm expanded its U.S. business after buying a Lincoln, Rhode Island tea and coffee company in 2014. It plans to build about 93,800 square feet and hire 73 employees at a median salary of $56,056 by 2019.

The incentives include about $1.4 million from a state program that gives companies tax credits for job that pay at least the state’s median hourly wage.

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Information from: The Providence Journal, https://www.providencejournal.com


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