Tax Increment Financing Tax Increment Financing 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. The program provides capital for your eligible project by rebating a portion of the new state tax revenue generated by the project. An eligible project must demonstrate need through a “financing gap.” The tax revenue rebate may not exceed 30% of total project costs (there’s an exemption for public infrastructure/utilities) or 75% of incremental revenue generated. 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 Visit RI Commerce’s Website