1-401-278-9100
Qualified Jobs Incentive Tax Credit
Rhode Island’s Qualified Jobs Incentive Program offers businesses an opportunity to expand their workforce while reducing costs. Companies that create new positions or relocate jobs to the state can receive annual, redeemable tax credits for up to 10 years, with credits of up to $7,500 per job per year.
Designed to support both emerging and established businesses, the Qualified Jobs Incentive Program helps offset the costs of hiring, enabling companies to scale operations while increasing production and lowering their tax burden.
Program Benefits
- Financial Incentives: Significant tax credits reduce the cost of expanding your workforce.
- Long-Term Support: Credits are available for up to a decade, providing sustained financial benefits.
- Flexible Eligibility: Designed to accommodate various industries and business sizes, with minimum job creation thresholds as low as 10 positions.
Eligibility Criteria
- Job Creation: Businesses must create a minimum number of new full-time jobs, varying by industry and company size, with a minimum threshold of 10 new jobs in most cases.
- Wage Standards: New positions should meet or exceed specific wage thresholds to qualify for the maximum credit.
- Application Process: Companies must apply and receive approval before claiming credits.
How to Apply
- Review Program Guidelines: Ensure your business meets all eligibility requirements.
- Contact Our Team: Speak with a member of the Investments team at Rhode Island Commerce to discuss your eligibility and the program’s alignment with your business goals.
- Prepare Documentation: Gather necessary information, including business plans and job creation projections.
- Submit Application: Complete and submit the application.
For More Information:
