****Can I start a similar company to my previous company even though I signed a non compete?

I have worked in the precious metals business for years and when I took my last position they made me sign a non compete agreement. It states that I will not operate in any location that the company has business interests in a 50 mile radius, for a year. My concern is, I would like to set up a company where I live but operate over 200 miles away from any of my previous companies interest, but my residence in within the 50 miles. I wont be operating in that jurisdiction, but the company address will be. Can I set up my company? My company will be set up in Rhode Island, but will operate in Vermont, Virginia, Maryland, and the Carolinas. And if I do set up, if I am in a state first and then my former company starts something in that state, does that mean I must cease to operate in that state?