New Advocacy Group Launches to Ensure IGT Stays in RI
GoLocalProv Business Team
New Advocacy Group Launches to Ensure IGT Stays in RI
The group, named “Keeping Jobs in Rhode Island,” plans to advocate for initiatives that protect over 1,000 jobs as it relates to IGT (formerly GTECH)
The founding members include former Commerce RI executive Hope Hopkins who now runs the Mass Challenge business incubator in RI, former founding GTECH Chief Technology Officer Don Stafford, and City Year Executive Director Jennie Johnson.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“Rhode Island’s tech future depends upon mature companies that partner and propel new innovators. IGT is a Rhode Island success story, and they will continue to play a lead role in growing our start-up infrastructure that will lead to job growth and greater economic activity. Now is the time to invest in our existing tech companies to further our success and build for the future. The plan the Governor, Speaker and Senate President negotiated and announced in June is a commitment to the technology jobs of the future both at IGT and beyond. That’s the story our organization will relay to Rhode Islanders,” said Hopkins, Keeping Jobs in Rhode Island’s founding board member.
“Rhode Island is positioned to become a leader in the technology sector and boost the success of homegrown companies like IGT. The state cannot afford to put good-paying, existing jobs at risk. A long-term economic plan to keep 1,100 IGT employees in Rhode Island is good policy and our group looks forward to making the case to the citizens of our state," said Paul Tencher, spokesperson for Keeping Jobs in Rhode Island.
"In recent weeks, Twin River Management Group – the state’s $281-million-a-year, no-bid, casino hospitality vendor – its new millionaire executive, and its New York-based hedge fund owners have misrepresented the fair, detailed, and taxpayer-friendly contract extension that Governor Raimondo, Speaker Mattiello, Senate President Ruggerio, and IGT negotiated and jointly announced last month. In doing so, Twin River and its partners are putting Rhode Islanders’ livelihoods at risk and threatening Rhode Island small business partners who count on IGT’s business," said Tencher.
In a phone interview, Tencher would not say how much has been given to the group by IGT to get the campaign off the ground, but said he expects the group to receive funding from other RI-based companies.
The Agreement
Under the terms of the agreement, IGT will be responsible for a $25 million payment to the State, $150 million in capital investments over the next 20 years, and at least 1,100 permanent jobs in Rhode Island.
While the company is now headquartered in London, the de facto United States headquarters is the Providence location near Waterplace.
Additional provisions of the agreement include:
- Anytime IGT plans to create at least 30 U.S.-based jobs or transfer as many employees, where not contractually obligated to another state, the company agrees to give Rhode Island the right of the first offer to make a proposal for IGT to locate those jobs in Rhode Island.
- IGT will maintain its corporate lottery office at 10 Memorial Boulevard in Downtown Providence.
- IGT will install a new, state-of-the-art online lottery solution and will bring its iLottery products to Rhode Island.
- IGT will regularly update its hardware and software to ensure Rhode Island Lottery consistently has state-of-the-art technology. Rhode Island Lottery will also have contractual rights to new technology developed by IGT in the future.
- IGT will replace more than 900 VLTs with brand new machines at Twin River Lincoln (25% of IGT’s machines) by the end of 2020 and will be obligated to replace at least the lowest performing 6% of machines at Twin River Lincoln and Twin River Tiverton every year.
- Instant ticket pricing will be locked in at its current rate through the life of the new contract.
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