Sen. Sheehan's Program Creating Massive Job Growth

Sheehan for Senate

August 13, 2018

Senator James Sheehan

Media Contact 401-742-1702

Qualified Jobs Incentive Initiative on Track, Creating Hundreds of Good-Paying Jobs

for Rhode Islanders

North Kingstown — This past week marked a milestone for the Qualified Jobs Incentive Act. As part of a regularly scheduled update to the state, the involved companies are reporting to have created hundreds of jobs for Rhode Islanders. The program which was initiated by Senator James Sheehan (D-Dist. 36, Narragansett, North Kingstown) and Representative Joseph Shekarchi (D-Dist. 23, Warwick) makes tax incentives available to companies that hire new “qualified” full-time employees who work a minimum of 30 hours per week, with a salary that is at least 250 percent of the state’s hourly minimum wage (The legislation was merged into the state budget in 2015).

“The creation of so many high-paying jobs is much-needed good news for the residents of Rhode Island,” said Senator Sheehan. “New, good-paying jobs mean employees are paying income tax and buying homes, contributing to charities and spending money at Rhode Island establishments. And the money companies save because of the incentive is money these firms can reinvest, so they can continue to grow and continue to hire. Most importantly, having a good-paying job will come as a relief to many residents who had been struggling for too long to make ends meet.”

In February, Commerce Secretary Stefan Pryor gave testimony on the program’s “significant success.” “2,100 qualified jobs have been pledged and are in the process of being created by the companies. The average salary [of the jobs is] $70,000. [These jobs are] above minimum wage, higher paying, higher value, as we hoped they would be when we were investors in such job growth,” reported Secretary Pryor.

He continued, “These gains are revenue positive to the tune of above 60-million dollars over the next ten years, [considering] tax credits going out and revenue coming into the state. That doesn’t include local property taxes and the other local revenue. So, these are big positives for the state.”

Among some of the companies involved in the reported “11 jobs deals since the program’s enactment” are United Natural Foods, Johnson & Johnson, Granite, Greystone, General Electric, Ocean State Job Lot, and Virgin Pulse.

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