Rhode Island Awards REGENT New Incentives to Support Expansion
30 Septiembre 2024 - 4:31PM
- The Rhode Island Commerce Corporation awarded REGENT new
incentives to support the seaglider manufacturer's expansion in the
state.
- REGENT plans to open a new manufacturing center with 255,000
additional square feet and create hundreds of high-paying jobs in
the next few years.
- REGENT’s expansion will foster economic growth and position the
Ocean State as a leader in innovation.
- Learn more about REGENT’s milestones in Rhode Island here,
and read why the company chose the state here.
North Kingstown, RI, September 30, 2024
– The Board of Directors for the Rhode Island
Commerce Corporation awarded additional incentives to REGENT Craft,
the manufacturer of all-electric seagliders, REGENT announced
today. This will support the company as it continues to expand,
create more well-paying jobs, and drive innovation and economic
growth in the state’s Blue Economy.
REGENT will receive $1 million under the First Wave Closing Fund
Act to support expansion in Rhode Island and $3 million under the
Rebuild Rhode Island Tax Credit Act. The corporation also amended
the company’s award under the Qualified Jobs Incentive Act to
reflect a new hiring schedule, as REGENT expects to hit its first
commitment under the incentive one year ahead of schedule.
REGENT plans to build a manufacturing center with 255,000
additional square feet in North Kingstown’s Quonset Business Park
and create 300 jobs over 10 years. Since REGENT selected Rhode
Island as its headquarters in 2022, the startup has created more
than 135 jobs, including contract positions, and reinvested $22
million into the state.
“REGENT is growing quickly, creating new well-paying jobs every
month and looking forward to expanding into our new manufacturing
facility,” said Billy Thalheimer, Co-founder and CEO, REGENT. “Not
only will this make Rhode Island the manufacturing capital of
seagliders in the U.S.; it will also continue the state’s
leadership in composites manufacturing and the Blue Economy.”
“The expansion of REGENT Craft will strengthen Rhode Island’s
position as a leader in innovative and green transportation
solutions,” said Rhode Island Governor Daniel McKee. “This project
will create a significant number of high-quality, good-paying jobs
that aligns with our goal of raising incomes for all Rhode
Islanders.”
“REGENT Craft’s expansion in Rhode Island helps strengthen our
position as a hub for innovative, cutting-edge marine tech
companies,” said Secretary of Commerce Liz Tanner. “This
partnership is the perfect example of how Rhode Island is fostering
economic growth through innovation, and we look forward to the
long-term benefits this expansion will bring to our
communities.”
“Quonset is pleased that REGENT will continue to grow along with
the hundreds of other companies here at the Business Park, enjoying
continued success that will create jobs for Rhode Islanders and
economic growth for our state,” said Steven J. King, Managing
Director of Quonset Development Corporation.
About REGENT
REGENT is pioneering the future of sustainable maritime mobility
through the development and manufacturing of all-electric
seagliders. Seagliders are new vessels that combine the speed of an
aircraft with the convenience of a boat to deliver an affordable
and efficient mode of transportation between coastal destinations.
REGENT’s flagship seaglider, Viceroy, is a 12-passenger vehicle
that travels at up to 180mph to service routes up to 180 miles on a
single charge. REGENT has already secured more than 600 seaglider
orders valued at more than $9 billion from leading airline and
ferry operators around the world and has raised more than $90
million from investors including 8090 Industries, Founders Fund,
Japan Airlines, and Lockheed Martin.
- Learn about seagliders here
- Explore REGENT’s website
- Discover REGENT’s media kit
- Read REGENT’s FAQs
- Follow REGENT on LinkedIn
- Follow REGENT on Instagram
Kirsten Salyer
REGENT
401-328-0532
media@regentcraft.com