At last week’s Rhode Island Economic Development Corporation Meeting, the Board of Directors, led by the Governor, approved a $500,000 Renewable Energy Fund loan to Washington state based PCS Utilidata, Inc. The loan will allow PCS Utilidata to relocate to the state and bring an estimated 8 to 15 jobs in 2012. By 2015, the company plans to have 47 full-time employees in Rhode Island, with an average annual salary of around $91,000.
“Utilidata is exactly the type of company we want to attract to relocate and expand in Rhode Island, bringing high-paying jobs to our state. I am pleased to welcome Utilidata to Rhode Island and look forward to their contributions to our growing knowledge economy,” Governor Chafee said.
Following the approval of the loan, in an effort to streamline the process for energy policy initiatives, Governor Chafee proposed that the Renewable Energy Fund be brought under the supervision of the Office of Energy Resources. The fund totals approximately $5.8 million and is designed to foster new business growth in the state and encourage businesses to use sustainable energy practices. The Governor believes that consolidating these efforts under the Office of Energy Resources will help these processes move more expeditiously.
