TAX CREDITS AND FINANCING
Qualified Jobs Incentive Tax Credit
Defense shipbuilding and maritime
Advanced business services
Contact Us Today
Transportation, distribution, logistics
Hospitality and tourism
Rebuild Rhode Island Tax Credit
If your real estate project cannot raise sufficient funding, Rebuild Rhode Island can 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, and historic rehab can qualify. 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.
Tax Increment Financing
Tax increment financing 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.
- Biomedical innovation
- Cyber-physical systems
- Data analytics
- Defense shipbuilding and maritime
- Advanced business services
Contact the Commerce Corporation about the application process.
- Design, food and custom manufacturing
- Transportation, distribution, logistics
- Hospitality and tourism