Mayor takes part in Opening of High-Tech Energy Company

Mayor Angel Taveras joined officials of Utilidata - a high-tech energy company and the RI Treasurer, in welcomng the new company to Providence as they launch their high-growth Smart Grid technology within our city.

Utilidata ws originally located in Spokane, Washington, and came to Providence with the technical support of the city of Providence and the financial assistance of the RI Economic Development Corporation Renewable Energy Fund, and the State's pension investment in Braemar Energy Ventures.

The company has developed innovative energy conservation technology to voltage demand, and reduces loss in wires, and it had the option of locating in Atlanta, Raleight or Boston, but chose Providence because of the CEO's roots to Rhode Island and the full-court press of support it received from city and state officials.

Utilidata will be hiring upwards of 50 new high-skilled employees with average salaries in excess of $90,000, financed in part by the $500,000 award it had received through the Renewable Energy Fund.

The company is located in the former and long-vacant Almacs grocery store, off Allens Avenue, brings 15,000 square feet of activity to the neighborhood, in an area rapidly transforming, as part of Providence's growing Knowledge District. The owners of the property, Jim and Marilyn Winoker, were on hand to celebrate with the Mayor and other officials in a 'toast' to the event.