Business Services Industry
German Firm to Close Providence, R.I., Technology Office.
Knight Ridder/Tribune Business News, August, 2003
By Lynn Arditi, Providence Journal, R.I. Knight Ridder/Tribune Business News
Aug. 6--A local subsidiary of the giant Fraunhofer Institute for Computer Graphics in Germany said yesterday that it is closing its Providence offices at the end of next month, citing difficulties attracting financing and research contracts in the United States.
The Fraunhofer Center for Research in Computer Graphics "was not able to attract local support from the State of Rhode Island or the City of Providence," according to a news release from the parent company in Darmstadt, Germany.
"When a new company starts in any state it needs some kind of local endorsement and local investment if it wants to stay, and that never happened," said Miguel Encarnacao, a...
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