The economy in Rhode Island is set to be boosted by eMoney Advisor's new office in the state.

eMoney Advisor is launching a software development office in Providence, Rhode Island, later this year in a move it says will bring 100 full-time jobs to the city by 2020 and be a huge boon to the local economy.

Founded in 2000, eMoney provides technology services to around 45,000 financial professionals at RIAs, broker-dealers, banks, insurance companies and other financial institutions.

The new office will be staffed by technology professionals including software developers, user interface and experience designers, software quality and testing engineers, product managers and associated support positions.

Rhode Island’s annual GDP is project to rise by $26 million by 2020, attributed to eMoney’s on-going operations, as a result of the hires (based on third-party economic analysis). The state is also projected to realize a net increase of over $4.5 million in personal income, sales and business corporation taxes.

eMoney was acquired by Fidelity Investments in 2015 but operates independently.