Immunex Rhode Island Corporation (“the Company”), based in West Greenwich, is a wholly-owned subsidiary of Amgen, Inc., based in Thousand Oaks, California. The requested incentives, described below, would be issued in connection with the Company’s decision to establish a new facility in Rhode Island to manufacture a variety of biologic therapeutic products. The Company would build the new facility at its existing manufacturing complex in West Greenwich, at an estimated total project cost of $165.1 million. When fully operational (expected to occur in 2022), the new facility would employ approximately 126 people, rising to 146 in 2025, with a median annual salary of $77,000.

Approved Incentive

The Company is requesting request incentives with a total value of nearly $12.9 million, including:

$3,450,000 in Rebuild Rhode Island tax credits;
An exemption from sales and use taxes due on construction materials and furnishings, with an estimated value of $3,255,000;
$6,000,000 in Qualified Jobs Incentive tax credits; and
A Tax Stabilization Incentive valued at $179,829.

Impact

The state fiscal impact of the requested tax credits, sales tax exemption and tax stabilization incentive is estimated to be nearly $12.9 in foregone state revenue and direct outlays. Direct and indirect economic and fiscal benefits of the proposed project include the estimated increase in annual state GDP of $33.5 million in the fourth year of operation, the estimated associated job creation, and a gross increase of nearly $16.6 million in personal income, sales and business tax revenues during the initial construction period and the twelve-year commitment period. Additional Documentation Economic Impact Analysis