Rebuild Rhode Island Tax Credit

The Rebuild Rhode Island Tax Credit helps real estate projects close financing gaps by offering redeemable tax credits.

Commercial office, industrial, residential, mixed-use development, ground-up construction and historic rehabilitation projects may qualify, provided they meet specific size and cost thresholds.

Program Overview

Flexible Financing: Helping to close funding gaps. 
Broad Eligibility: Qualifying projects include commercial developments, mixed-use projects, multi-family residential developments and historic rehabilitations. 
Sales Tax Savings: Rebated sales taxes for construction materials, furnishings and equipment reduce overall project costs.

Eligibility Criteria 

Minimum Investment: Applicants must commit at least 20% equity of the total project cost. 
Project Financing Gap: The project must demonstrate that it cannot be completed without this tax credit. 
Project Types: Commercial developments of at least 25,000 square feet with at least 25 full-time employees post-construction. 
Multi-family residential developments of at least 20,000 square feet and 20 residential units in designated areas. 
Mixed-use developments of at least 25,000 square feet in new, adaptive reuse or certified historic structures. 
Minimum Costs: Most projects must have a total cost of at least $5 million, though this threshold may be reduced for developments in designated "hope communities" or redevelopment areas. 
Streamlined Applications: Separate processes are available for projects involving historic structures, manufacturing and affordable or workforce housing.

How to Apply 

Review Program Guidelines: Ensure your project 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 project goals. 
Prepare Documentation: Gather necessary information, including project plans, budgets and evidence of a financing gap. 
Submit Application: Complete and submit the application.

For More Information:

Need assistance with tax credits & financing?

Email the Investments Team