PROVIDENCE, R.I. (WPRI) – Magellan Health Inc., a health-care management company, will add 100 jobs in Rhode Island in exchange for state credits, more than doubling its local workforce, officials said Tuesday.
“Magellan Health is excited to expand our existing operations in Rhode Island,” Magellan Chairman and CEO Barry Smith said in a statement. “Magellan has offices in 26 states and Washington, D.C., but we chose to expand this area of our business in Rhode Island based on the access to talent, our existing footprint in the state, as well as the incentives offered by the Rhode Island Commerce Corporation.”
The Commerce Corporation board approved up to $2.1 million in tax credits that Magellan can receive over 10 years if it creates 75 new jobs. An additional 25 full-time jobs are also expected to be added by the company. Commerce Secretary Stefan Pryor said an outside analysis showed the deal will be revenue-positive for the state.
“The new jobs are projected to be filled over the next three years by a range of health care, finance, data science, and administrative professionals, including pharmacists, pharmacy technicians, data analysts, and project managers, with an anticipated median salary of $100,000,” the agency said in a news release. “In addition, the company will retain its approximately 86 current Rhode Island-based jobs.”
Magellan purchased CDMI LLC, a Newport-based health consulting firm, in 2014, and has kept a presence there since. Officials have said Magellan had been considering closing its Rhode Island office.