Documents detail R.I. pitch to GE

THIS IS ONE OF THE slides that was presented to General Electric officials last year about Rhode Island's advantages. / COURTESY R.I. COMMERCE CORPORATION
THIS IS ONE OF THE slides that was presented to General Electric officials last year about Rhode Island's advantages. / COURTESY R.I. COMMERCE CORPORATION

PROVIDENCE – Beyond financial incentives, the pitch that Rhode Island made for the General Electric headquarters emphasized the relative affordability of the Ocean State.
Presentations made to GE executives by the R.I. Commerce Corp. last year repeatedly compared the cost of living and doing business in greater Boston to Providence, according to documents released to Providence Business News through a public records request. The presentation argued that Providence and Rhode Island represented the better deal.
What was not released: the offer letter or slide details that include any reference to financial incentives specifically presented to GE for the headquarters relocation.
A Commerce RI spokeswoman, via email, said the information was withheld due to an exemption from the disclosure law that relates “[t]rade secrets and commercial or financial information obtained from a person, firm, or corporation which is of a privileged or confidential nature” and for “[r]eports and statements of strategy or negotiation with respect to the investment or borrowing of public funds.”
Ultimately, Boston prevailed in the quest for the headquarters. GE announced in January it would relocate to the Bay State’s capital. Boston and Massachusetts offered a combined package of relocation incentives worth $145 million, according to the Boston Globe. Company executives cited the creative and educational environment of the city itself.
Rhode Island later would be identified as one of two locations for a new GE division, GE Digital. The Commerce RI board this week is expected to consider incentives for the company to locate at least 100 new jobs in Providence.
In a recent interview, Gov. Gina M. Raimondo said Rhode Island was competitive for the headquarters, including in financial terms. “We put in an offer which was similar to Massachusetts,” she said. “We were in a similar ballpark.”
“They wanted to be in a city. They wanted to be in a big city, which is why they went to Boston.”
According to the Commerce RI documents, the presentation made to GE executives was entitled “Project Plum: The RI Proposition” a reference to the code name that GE then used for its efforts at relocation.
Initially, state officials presented their argument for the Ocean State in July 2015, emphasizing the competitiveness of Rhode Island over Connecticut, where GE is headquartered. It then revised the pitch in September to counter Massachusetts.
The PowerPoint slides for the final presentation contrasted home prices, school test scores, corporate tax rates and traffic images. They emphasized the pool of Rhode Island graduates with degrees in science, technology, engineering or mathematics, and described Providence as an emerging hub for the tech, engineering and design industry.
Competing photos showed samples of what $900,000 could buy in Newton, Mass., a wealthy suburb west of Boston, and Barrington, one of Rhode Island’s most affluent towns.
The photos showed a modest, 1,800-square-foot split-level in Newton, and a 3,500-square-foot Tudor estate in Barrington. Slides for the $400,000 price point showed a 1,400-square-foot Cape in Sharon, Mass., versus a 2,500-square-foot house in East Greenwich.
Public school comparisons included Newton North High School in Massachusetts versus East Greenwich High School, both of which had combined SAT scores in the 1750s.
Private school comparisons featured photos of Philips Andover Academy, which costs $38,000 annually, and Moses Brown School in Providence, with an Upper School tuition of $33,000.
The argument for a hassle-free commute came through photos. Traffic in Boston was illustrated through a photo of clogged Tobin Bridge entrance traffic. The Ocean State was represented by an aerial photo of the Newport Harbor and bridge.
“Advantage: Rhode Island … Again!” the slide stated.

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