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[January 03, 2013]
BRIEF: Occupy Providence protests Hasbro's tax break
Jan 02, 2013 (The Providence Journal - McClatchy-Tribune Information Services via COMTEX) -- PROVIDENCE, R.I. -- Occupy Providence welcomed Hasbro to its new Providence location on Monday, with a protest.
"We have an egregious example of corporate welfare going on here," said Randall Rose of Providence, an Occupier.
The Pawtucket-based toymaker is leasing the building at LaSalle Square, formerly owned by Blue Cross & Blue Shield. The company said it would create 284 new jobs in Rhode Island within three years. In exchange, the state's Economic Development Corporation extended the company a $1.6-million tax break.
This follows the EDC's failed $75-million loan to 38 Studios last year. Hasbro, according to Jim Daly of Newport, an Occupier, outsources manufacturing jobs to China.
"We're sick of seeing tax breaks going to the wrong places in Rhode Island," Daly said.
___ (c)2013 The Providence Journal (Providence, R.I.) Visit The Providence Journal (Providence, R.I.) at www.projo.com Distributed by MCT Information Services
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