SMITHFIELD, R.I. -- Tax code changes often divide taxpayers as people calculate whether revisions will help or hurt them financially.
Count Alexion Pharmaceuticals Inc. in the latter category.
The Connecticut-based drugmaker expects it will come out on the short end should a proposal by Governor Chafee to eliminate a "jobs-development" tax credit be approved by the General Assembly.
This tax credit benefited eight companies in the fiscal year that ended June 30, at a cost to the state $16.4 million. Alexion Pharmaceuticals, which has 194 employees at its factory in Smithfield, in October, became the ninth company to qualify for the credit.
"[The credit] was critical to our decision to remain in Smithfield," said Irving Adler, Alexion's senior director of corporate communications. "The governor's proposal jeopardizes are ability to grow.