Rebuild Rhode Island Tax Credit Recipients
Gotham Greens is a pioneer in indoor agriculture and a leading produce and fresh food company. Through its national network of climate-controlled, data-driven greenhouses, Gotham Greens grows and sells long-lasting, delicious leafy greens and herbs along with a line of fresh salad dressings and sauces to retail, restaurant and foodservice customers year-round. Founded in 2009 in Brooklyn, N.Y., Gotham Greens now operates 500,000 square feet of hydroponic greenhouses across five U.S. states with more than 350 team members.
Through its pioneering urban greenhouse projects, Gotham Greens addresses growing consumer interest in fresh food that is produced regionally. The company also addresses increasing ecological and public health concerns surrounding conventional agriculture, including high resource consumption, long distance food transport, and food safety. By locating its greenhouses in underserved urban areas, Gotham Greens aims to participate in neighborhood revitalization, blight reduction, job creation, support of community programming and environmental education, and encouragement of public health and wellness.
Gotham Greens Holdings, LLC is proposing to develop and operate a new, commercial-scale, climate controlled, greenhouse facility at the former General Electric Baseworks site located at 586 Atwells Avenue in the Valley neighborhood area of Providence. The 110,000 square foot greenhouse facility will grow and process fresh vegetables and herbs, year-round, targeting Rhode Island’s retail, restaurant and institutional food service customers. The Applicant has committed to hire 68 new full-time employees for production, distribution, logistics, and other support functions.
The Sponsor has requested up to a maximum of $1,300,000 in Rebuild Rhode Island Tax Credits, and the Commerce Corporation is recommending awarding an anticipated $934,610 Qualified Jobs Incentive Tax Credits.
- Direct and indirect economic and fiscal benefits of the proposed project include the estimated increase in annual state GDP of $6.4 million in 2019, the estimated associated job creation, and a gross increase of nearly $2.3 million in personal income, sales and business tax revenues during construction and during the twelve-year commitment period beginning in 2019. These benefits are detailed in the foregoing analysis.
- In addition to the economic and tax revenue impacts cited above, the Company’s new facility would benefit Rhode Island in other ways, including:
- Returning to productive use a site that has been inactive for more than twenty-years
- Supporting the city’s and Rhode Island’s continued development as a center for culinary innovation
- Responding to consumer demand for regionally-grown fresh food
- Supporting local efforts to improve access to fresh food
- Providing health and environmental education services
Economic Impact Analysis
Providence Journal: R.I. Commerce board OKs $2.2M in tax credits for massive greenhouse in Providence