Governor Gina Raimondo, commerce Secretary Stefan Pryor, Finlays CEO Steve Olyha, and other local officials joined a celebration of a significant milestone in the construction of Finlays’ new global research and development center last month at Quonset Business Park. Finlays is a global leader in the development and distribution of tea and coffee extracts. 

As this new facility rises and the final steel beam is put in place, we’ll see new activity at the site on Ocean State Dr. Having led the demolition of the former Navy buildings that once occupied this location, this is an exciting transformation for me to witness. 

Finlays new project at Quonset will ultimately include 93,000 s/f of building space and will result in an investment of approximately $54.3 million. The project is planned to be completed in two phases. The first phase will consist of a 28,800 s/f global research and development facility and pilot plant. The second phase will see the construction of a 65,000 s/f full-scale manufacturing and distribution plant.

“This new facility will bring Finlays products to market, but will also bring good, family-supporting jobs to Rhode Island,” said governor Raimondo. “Because of our hard work reinvesting in our manufacturing industries and supporting high-skill, high-wage opportunities for our residents, global leaders like Finlays want to be here and create jobs. I’m thrilled to see another business building here in Rhode Island.”

“This significant investment in our infrastructure will enhance our ability to bring world class solutions and innovative ideas to market. As we continue to grow our leadership position in the industry, we are proud to be doing it here in Rhode Island, a state that shares our values and promotes our ambitions,” said Steve Olyha, CEO of Finlay USA.

As part of the project, Finlays has committed to hiring 73 new full-time employees by 2019. 

The project would not be possible without the partnership of Commerce R.I. Thanks to the efforts of Rhode Island’s secretary of commerce Stefan Pryor and his team, Finlays was able to access the Rebuild Rhode Island tax credit as well as Qualified Jobs Incentive Tax Credits. 

“Finlays is another example of a globally important company that is planting a flag in Rhode Island -- drawing upon and growing our innovation ecosystem,” said secretary Pryor, who also serves as chair of the Quonset Development Corp. board of directors. 

Another key draw for the company at Quonset was its innovative site-readiness progra. Working with the R.I. Department of Environmental Management and the Coastal Resources Management Council, QDC has completed all the permitting and engineering that a developer would require as part of “due diligence” to get a project under way. Quonset’s site-readiness program allows businesses to begin construction within 90 days of taking site control, a significant advantage. 

The company is also taking advantage of two standard lease incentives offered by the QDC. The first incentive is based on the length of the term of the lease (50 years), while the second is based on employment and wages the company delivers. Both incentives are offered on all new land leases signed by Quonset tenants regardless of their size.

Innovative programs are just one of the many reasons that Quonset has established itself as a leading engine of economic development in Rhode Island. With nearly 11,000 jobs at more than 200 companies the Quonset Business Park is a true R.I. success story. Finlays’ new facility is a welcome addition to the park and we look forward to working with their entire team on this project.

Steven King, PE, is the managing director of the Quonset Development Corp., North Kingstown.