Eastern Ice Co. Inc. announced Thursday it has completed construction and is open for business at its new $4.5 million building at the city’s Commerce Park that will bring 13 permanent full-time jobs over the next three years.
By Michael Holtzman
Herald News Staff Reporter
Posted Jun 07, 2008 @ 04:42 AM
Eastern Ice Co. Inc. announced Thursday it has completed construction and is open for business at its new $4.5 million building at the city’s Commerce Park that will bring 13 permanent full-time jobs over the next three years. The state-of-the-art 25,000 square-foot ice manufacturing facility could be expanded up to 40,000 square feet, according to the family that operates the business. C. Joseph and David F. Rossi expanded the 36-year-old company from its base in Newport and chose Fall River over three competing municipalities, they said. The five-year tax increment financing agreement with the city, saving the company $66,000, was a factor, the owners said. The state also provides a 5 percent state break. The company will be a significant taxpayer and water user, said Kenneth Fiola Jr., who joined Mayor Robert Correia at the company opening. “Other companies should look at the reasons why Eastern Ice chose Fall River over other communities,” Correia said, urging others to follow that path and praising the Rossi family for investing in the city. Correia said infrastructure improvements would make company start-ups and expansions attractive. The new owners, in turn, cited a “pro-business” atmosphere offered through the TIF and construction permitting process. The 25 percent tax reduction through the TIF still means the company will pay more than $200,0000 in property taxes over the next five years, along with water fees, officials said. The City Council approved the TIF in July, following the recommendation by the city’s TIF board. The company also agreed to go through local job development agencies to hire qualified individuals for a half dozen jobs paying in the mid-$30,000 to mid-$50,000, two supervisor positions that pay more than $80,000 and several clerical-type jobs that pay in the $20,000 and up range. The jobs include full benefits.