EAST PROVIDENCE, RI – Igus Inc., based in Cologne, Germany with a large facility in East
Providence, is expanding. The privately-held maker of polymer components is planning a $200 million expansion in East Providence.
The company’s East Providence location will now serve as its US headquarters. The 700,000-square-foot expansion will feature shipping, manufacturing and warehouse space on Ferris Avenue.
The expansion could mean 150 in direct employment jobs, 226 jobs in indirect employment, and 104 induced employment jobs for a total income for all identified employment of $37M.
“Our city is fortunate to have Igus here in our community and we look forward to working with them to expand our tax base and bring hundreds of quality jobs to East Providence,” Mayor Bob DaSilva said.
“This investment is a testament to the confidence that Igus has in our administration and stability in our
city.”
“This project will be the largest manufacturing investment in the city's history,” Planning and Economic Dir. William Fazioli said. “Igus has been an important partner with the city in providing high skilled, well-paying jobs for our residents.
“We are extremely pleased with the innovative carbon neutral aspects of the development which will make this one of the most environmentally sustainable buildings in our city,” Fazioli added.
Property tax revenue impacts for the City, based on a $200,000,000 full buildout, would be estimated to generate approximately $5M in annual tax revenue.
Original source can be found here.
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