NEW: Battery Manufacturer Brings 165 Jobs to RI
Tuesday, April 19, 2011
Yardney Technical Products, which is currently located at Pawcatuck, will be moving to 2000 South County Trail in East Greenwich. A groundbreaking ceremony is set for tomorrow.
The move comes as a big economic development win for Chafee at a time when he is facing stiff opposition from business groups over his proposed budget. GoLocalProv also reported last week that Chafee had failed to bring corporate giant GE Capital to Rhode Island.
More about the company
From the Governor’s office:
Yardney Technical Products, Inc., a veteran-owned small business, is a technology-driven company that focuses on advanced battery technologies for use in high performance applications. These systems have proven successful on mini-subs, rockets, torpedoes, aircraft, satellites, and roving the surface of Mars. The company has distinguished itself since 1944 in the design, development, and manufacture of advanced battery technologies for Aerospace, the Department of Defense, and industrial/commercial applications. In addition to the Lithion product line, Yardney also produces silver-zinc and metal-air cells and batteries.
DEVELOPING.....
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Comments:
Swamp Yankee
12:47pm on Tuesday, April 19, 2011
Are they firing the current workers and hiring RIers?
If so good news for RIers!
If not, that's not really new jobs, is it.
Then there's the question of how much they were offered in tax breaks to come here - if that doesn't offset the income taxes from the existing CT and hopefully RIers working for them, then we could be talking about a net negative revenue for the state.
Hopefully there's more good news than meets the eye - and at the very least hopefully they'll buy some gas, cigarettes or sandwiches in RI too.
Pam Thomas
9:23am on Wednesday, April 20, 2011
Last October the projo reported that yardney was being offered sales tax and other breaks to move to RI, which the newspaper said it was in the process of doing. It was just across the border so we can assume lots of the employees will just switch their commute, tho some must be rhode islanders. Good to have in RI tho, but it looks like the credit goes to the carcieri administration on this one.