International medical device company SenTec Inc. will open a new regional office in Lincoln, R.I., the Rhode Island Commerce Corporation announced recently. SenTec develops, manufactures and sells medical sensors. The new Rhode Island office is expected to employ 17 people.
The Commerce Corporation approved up to $51,825 per year in tax credits over a decade for SenTec, which is owned by Swiss parent SenTec AG. The incentives, through the state’s Qualified Jobs tax credit program, are based on the size of the company payroll in Rhode Island in coming years and would total $518,000 over the full 10 years if SenTec meets its hiring benchmarks.
“I’m excited that SenTec has chosen Rhode Island as its new regional headquarters,” Gov. Gina Raimondo said in the news release. “Our efforts to support workforce development and grow Rhode Island’s health care sector were crucial factors in attracting SenTec. I’m fully committed to continuing this work so we can create more opportunities for workers and businesses in our state.”
SenTec has agreed to keep 17 employees in Rhode Island for at least 12 years, according to the news release. They include operations managers, salespeople, technicians and back office staffers with an anticipated median annual salary of $100,000.