ProJo: Toray Confirms $11.5 Million Expansion, Added Jobs

Toray Plastics (America) has officially announced a $11.5-million expansion for its locations in Rhode Island, reports the Providence Journal. (Read the Journal's full article here.)

The expansion (which is expected to result in 28 new jobs with an average salary of around $50,000) mainly focuses on adding new machinery that will "add value" to the company's products, said Toray President and CEO Richard. R. Schloesser. The changes will be spread out over the next 18 months.

On Monday, Toray received a big financial boost from the Rhode Island Economic Development Corporation to the tune of $1 million to help . The farm, featuring 1,650 solar panels at Toray's Quonset Point location, will be the largest in the state and help Toray offset its high electricity usage.

Earlier this summer when Toray was awarded with the "We Are Proud of You" award by the North Kingstown Town Council, Schloesser expressed his wishes to implement a $200-million expansion over the next few years, resulting in between .