Finlay seeking state incentives for $54.3M project at Quonset

FINLAY Extracts & Ingredients USA Inc. is requesting state incentives to build research, manufacturing and distribution facilities at Quonset Business Park.
FINLAY Extracts & Ingredients USA Inc. is requesting state incentives to build research, manufacturing and distribution facilities at Quonset Business Park.

NORTH KINGSTOWN – Finlay Extracts & Ingredients USA Inc., part of a multinational tea, coffee and horticulture business, is requesting state incentives to build research, manufacturing and distribution facilities at Quonset Business Park.
The privately held company is seeking $572,000 from the R.I. Commerce Corporation under the Rebuild Rhode Island tax credit program for construction and operation of two facilities, according to a board meeting agenda.
The company is pursuing construction of a 28,000-square-foot pilot and research facility and a 65,000-square-foot manufacturing and distribution facility.
The development cost for both is estimated by the company at $54.3 million.
Finlay Extracts & Ingredients USA is based at 10 Blackstone Valley Place, Lincoln. According to its profile on LinkedIn, the company is a global leader in tea and coffee extracts, which are sold to a variety of companies in the food, beverage and dairy industries.
Finlay Extracts & Ingredients is a group company of Finlays, a wholly owned subsidiary of the London-based John Swire & Sons. In 2014, the company, through its James Finlay International Inc. subsidiary, purchased Lincoln-based Autocrat LLC for an undisclosed amount, according to a news release.
Finlay Extracts also is seeking incentives through the Qualified Jobs Incentive program, for an amount unspecified in the meeting documents released Monday.
The Commerce board meets at 2 p.m. on Aug. 10.
A Commerce committee that is focused on investments will consider the Finlay request, as well as incentives for GE Digital, at 4 p.m. on Aug. 9. GE Digital, a division of General Electric, is opening a new technology center in Providence.

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