Rhode Island offers incentives, credits, and grants that can help your business in a host of ways. To make sure companies understand and take advantage of these incentives, our staff works one-on-one with you to design the right tax approach.

Qualified Jobs

Companies hiring at least 10 full-time employees in Rhode Island may be eligible to receive redeemable tax credits equal to the state income tax withholdings for the newly added jobs up to $7,500 per job each year, for up to 10 years.

Innovation Voucher

This Best in America program unlocks R&D capacity for RI small businesses. Companies with 500 employees or less can receive up to $75,000. Rhode Island offers a 22.5% by-right tax credit for increases in qualified research expenses — the highest rate in America.

Rebuild RI Tax Credit

The Rebuild Rhode Island Tax Credit fosters growth in construction and real estate development by providing a tax credit of up to 20 percent of project costs to qualified real estate projects of $5 million or more that demonstrate a financing gap. The credit may be increased up to 30 percent for designated project types and locations.

Wavemaker

Employers work with Rhode Island Department of Labor and Training and regional partners on solutions, metrics and funding.

In order to retain and attract an educated workforce we offer financial incentives for college graduates in technology, engineering, design and other key STEM sectors by defraying student loan payments for up to four years while working for a Rhode Island businesses.

The Wavemaker Fellowship program offers qualifying individuals a refundable Tax Credit Certificate worth the value of their annual student loan burden for up to four years. In addition to the financial benefit, Fellows are invited to participate in various personal and professional development programs, social and professional networking opportunities, community-based events and more.

Additional information about Rhode Island incentives can be found on the Rhode Island Commerce website.