Tax Credits & Financing
Qualified Jobs Tax Credit
Expand your workforce in Rhode Island or relocate jobs from out of state, and you can receive annual, redeemable tax credits for up to 10 years. Credits can equal up to $7,500 per job per year, depending on the wage level and other criteria.
Rebuild Rhode Island Tax Credit
If your real estate project cannot raise sufficient funding, Rebuild Rhode Island can fill the financing gap with redeemable tax credits covering up to 20% – and, in some cases, 30% – of project costs.
Tax Increment Financing
Tax Increment Financing can provide your development project with the capital it needs by rebating a portion of the new state tax revenue generated from the project. Eligible projects must demonstrate need through a “financing gap."
Renewable Energy Fund
Rhode Island Commerce’s Renewable Energy Fund (REF) provides grants for renewable energy projects that have the potential to produce electricity in a cleaner, more sustainable manner, while stimulating job growth in the green technology and energy sectors.