Home / Why RI?

Why Rhode Island?

Big things are happening in Rhode Island. We have taken bold action to make the Ocean State the best place in New England to start, grow or locate a business.

Rhode Island offers not only a predictable business climate and potent incentive programs, but also locations that range from the Greater Boston suburbs to the Long Island Sound, all within easy access of major cities on the Northeast Corridor.

Predictable Business Climate

Rhode Island offers an increasingly competitive, predictable business environment. Thanks to our governor and legislature’s leadership on pension and Medicaid reform, we have reined in structural costs and flattened their trajectories. As a result, we can ensure businesses a stable tax structure.

Rhode Island has not raised its top personal income, corporate income or sales tax rates in a generation. Instead, we recently lowered our top personal income tax rate (from 9.9% to 5.99%), as well as our top corporate tax rate (from 9% to 7%). Rhode Island’s top corporate tax rate is now the lowest in the Northeast.

Rhode Island has also implemented major reforms of its regulatory system and business-facing agencies. As a result, we can now offer businesses a single point of contact and a coordinated response.

A Location Second to None

In addition to predictability and incentives, Rhode Island’s location presents a compelling proposition. We offer suburban locations with access to Boston talent at a fraction of the cost — a chief reason companies such as CVS and Fidelity have headquarters and major operations here.

A bit further south, but still just a 35-minute rail commute from Boston, is Providence, famed for its food and quality of life. To Providence’s south is Narragansett Bay, the epicenter of Rhode Island’s defense and maritime economy. Electric Boat, Raytheon, and major U.S. Navy R&D institutions inhabit seaside locations there, just minutes from world-class sailing, beaches, and resorts.

Initiatives and Projects

Luca + Danni Rhode Island manufacturing initiative

Rhode Island Manufacturing Initiative

Governor Raimondo announced a new manufacturing initiative — a package of workforce training and economic development programs that aim to rebuild Rhode Island’s manufacturing industry for the 21st Century and create opportunity for Rhode Island families.

Click here to learn more about this initiative.

graduates

Rhode Island Pathways in Technology (P-TECH) Early College High School Initiative

Rhode Island proudly announces the launch of its P-TECH program in three local high schools in the fall of 2016. This program, conceived by IBM, provides high school students with a technology education to succeed in the workplace of the future, while providing employers with a skilled workforce of the futures.

Click here to learn more about P-TECH in RI

10,000 Small Businesses

Goldman Sachs 10,000 Small Businesses

This program will provide small and early-stage companies in Rhode Island with with access to a business and management education, capital, and business support services. Governor Raimondo and her commerce team played the lead role in bringing this program to Rhode Island. Currently accepting applications for the fall 2016 cohort, applications are due Wednesday, June 1, 2016.

Learn More About 10,000 Small Businesses

rhode-island-innovates

Rhode Island Innovates

In the fall and winter of 2015–2016, the Metropolitan Policy Program at Brookings worked in association with Battelle Technology Partnership Practice and Monitor Deloitte to advance a new competitive strategy for Rhode Island.

Review Rhode Island’s new economic strategy and download the report here. Then, join in the conversation at #InnovateRI.

WAVE

Potent Incentives for Businesses and Workers

A strong signal of the state’s commitment to economic growth, Rhode Island’s legislature just passed, nearly unanimously and in record time, a powerful suite of new programs aimed at growing businesses and creating jobs. These incentives, benefitting businesses of every size, are some of the most significant and comprehensive in the Northeast, if not the nation.

Learn More About WAVE

Emprendedores Latinos

An initiative of the Commerce Corporation that connects Latino businesses with targeted resources and opportunities in Rhode Island. Our goal is to increase your awareness about the challenges and opportunities in the Latino communityand deliver bilingual support for all entrepreneurs!

The Latino Entrepreneurs website exists to strengthen and empower Latino entrepreneurs to grow in Rhode Island; connect them with targeted resources and opportunities; foster mentorship, coaching, and role modeling; and share best practices and success stories. Simply put, we will do everything in our reach to help you and your business succeed!

Visit Emprendedores Latinos

Northeast US

Key Advantages

Rhode Island is where the mighty forces of “grit and intellect intersect.” Get immersed in a formidable talent base of world-class designers, artists and “artrepreneurs.” Academic researchers, medical scientists and fabricators, alike, know that Rhode Island is the perfect place to grow and innovate.

Read more

International Trade in 2011

added
$1.7B
in Rhode Island’s private
sector economy

Supported
185,000
private sector
jobs

paid an average of
$69,300
for wages salaries
and benefits

Rhode Island Start-ups

raised over
$140,000,000
in venture capital in 2013

We are a hub for creativity & design

infographic-sector-jobs

We have the 3rd largest
percentage of creative
sector jobs in the country.

infographic-new-design-business

new design businesses
in Rhode Island from
2007-2012

infographic-ri-designers

Providence has the 3rd most
industrial designers
per capita
than any other city in the U.S.

How Can We Help?

From business planning to international market entry strategies, for companies large and small, the Commerce Corporation is here to help.

Seafreeze, Ltd.

In 2014, Rhode Island food and seafood companies made great progress growing their export sales with Rhode Island Commerce Corporation and Food Export-Northeast’s assistance.

Learn More

Greencore USA

When Greencore needed to expand its production facility in the northeast, the company chose to come to Quonset Business Park in Rhode Island for

Learn More

Artic Tool & Engineering

When the Carlyle Johnson Machine Company (CJMC) – the Connecticut-based parent company of wholly owned subsidiary Artic Tool & Engineering Company – decided to

Learn More
  • This field is for validation purposes and should be left unchanged.