filed under Daily Dose
You lose some… And you win some.
7:33AM ON
07/30/2008
BY
Dave Segal
One of my pet peeves is the way in which states battle each other for businesses: Any individual state will lose some skirmishes, and win others. But on average, we all lose out, as public benefits are diminished.
Anyway, RI just won one such battle. (Though with a loan, rather than a grant or tax break.) If we lived in a vacuum, that’d be reason to be really happy. In the world we actually live in, and given the state of RI’s economy, it’s cause for a gentle smirk — until another home-grown firm leaves town because it’s getting a deal somewhere else.
InQuest Technologies Inc. said Tuesday it would be moving its corporate headquarters to Providence, R.I., from Southborough.
The Web-based business application developer said it was attracted to the Ocean State with a $750,000 loan from the Rhode Island Economic Development Corp. to expand its operations in the area.
The move affects 20 employees at its soon-to-be-former headquarters, with plans to hire 50 more once the relocation is completed in September.
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