CRANSTON, R.I. — Today, Rhode Island Commerce hosted a resource fair at Taco Comfort Solutions in Cranston for local manufacturers highlighting new programs that support the industry, as well as existing programs and initiatives that support manufacturers in Rhode Island.
“Rhode Island has a long history of manufacturing excellence, and today’s manufacturers deserve to have the tools and support they need to succeed in a modern economy,” said Governor Dan McKee. “These programs are part of our broader efforts to invest in key industries that provide good paying jobs and opportunities for all Rhode Islanders.”
“At Rhode Island Commerce we are always looking for ways to adapt and support our state’s businesses. By creating these new programs – whether they help make operations more efficient, update technology, file patents, or plan for the future – we’re providing practical solutions to help manufacturers succeed,” said Secretary of Commerce Liz Tanner.
Manufacturers received updates on several new programs and initiatives, including:
Manufacturing Succession Planning Initiative
In 2024, the state received $400,000 in federal funding to provide technical assistance to manufacturers planning for succession. Rhode Island Commerce will work with a consultant to assist manufacturers with succession planning strategies to ensure organizational continuity and long-term success.
Request for proposals are being accepted through February 28.
Manufacturing Equipment Voucher Grant Program
Rhode Island Commerce will launch a new program offering grants to help eligible manufacturers (2023 gross receipts under $5 million and 50 or less employees) defray the cost of purchasing new or used equipment or machinery. The program reimburses up to 50% of a cash purchase or 50% of a downpayment for a financed purchase, with a cap of $25,000.
Applications open February 5.
Invention Incentives Program
Rhode Island Commerce will launch a new program in the spring offering reimbursable grants of up to $5,000 for eligible expenses incurred when filing patents. Eligible expenses include, among other things, direct payments to the US Patent and Trademark Office and costs paid to a Registered Patent Practitioner in Rhode Island.
Event participants were also briefed on additional resources and programs from the RI Department of Labor & Training, the RI Division of Statewide Purchasing, Bryant University’s John H. Chaffee Center for International Business, and Polaris MEP.
Businesses interested in learning more should visit commerceri.com, email info@commerceri.com, or call 401-521-HELP.
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