Commerce OKs $10.4M in tax incentives for jobs, real estate

PROVIDENCE – R.I. Commerce Corp. authorized the payment of real estate or job-creation tax credits to three companies Dec. 19 totaling more than $10.4 million.

Virgin Pulse Inc., an employee-wellness program based in Framingham, Mass., plans to relocate 65 jobs from the Jewelry District downtown to the Providence Journal building at 75 Fountain St. in 2017, and create 292 new full-time jobs over the next four years. It was approved for up to $2,855,701 in Qualified Jobs Incentive Tax Credits and up to $3,240,597 in Rebuild Rhode Island tax credits to expand office space.

Waldorf Capital Partners LLC, which plans to build a mixed-use development of 91 upscale apartments and retail space at Chestnut and Friendship streets in the Jewelry District, will be eligible for $2,975,356 in Rebuild RI tax credits.

Fall River-based Surplus Solutions LLC, which buys and sells used laboratory and biotechnology equipment, will move to Woonsocket in 2017. It was approved for up to $454,681 in Qualified Jobs tax credits over 10 years. •

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