Monday, April 04, 2016
Guest MINDSETTER™ Tony Santos
A Rhode Island business folding or relocating operations to business friendly territory is unfortunately as commonplace as a rush hour fender bender. On the surface the recent closing of the Teppco Propane facility leaving 36 souls unemployed appears to be another casualty of a hostile business climate, however the timing and circumstances that led Teppco GP Inc. to close their doors leaves a number of loose threads and unanswered questions to write this off as a $1 Million “Tax-Jack” of a single business. The Teppco Propane facility sits on a waterfront tract of land near 10 acres at 25 Fields Point Dr. where they’ve operated in energy/propane distribution since 1971. As reported by GoLocalProv, in July 2015 Teppco found themselves on the wrong side of a $1 Million tax increase, 400% over the previous year (2014).
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