Rebuild Rhode Island Tax Credit
Rebuild Rhode Island was established to promote the retention and expansion of existing jobs, stimulate the creation of new jobs, attract new business and industry to the state, and stimulate growth in real estate developments and/or businesses that are prepared to make meaningful investment and foster job creation in Rhode Island.
If your real estate project cannot raise sufficient funding, the program may be able to fill the financing gap with redeemable tax credits covering up to 20% – and, in some cases, 30% – of project costs.
- Commercial office
- Industrial
- Residential
- Mixed-use development
- Ground-up construction
- Historic rehab
A minimum project cost of $5 million and certain square footage/project size minimums may apply. Approved projects can also be exempted from sales tax on construction materials, furnishings, and equipment.
Target Industries:
- Biomedical innovation
- IT/ software, cyber-physical systems
- Data analytics
- Defense shipbuilding and maritime
- Advanced business services
- Design, food, and custom manufacturing
- Transportation, distribution, logistics
- Arts
- Education
- Hospitality and Tourism