Rhode Island Commerce | Business Innovation Incentives


Rhode Island Rebounds is an initiative by the State to invest in its children, families, workers, housing, and small business owners through utilization of the American Rescue Plan State Fiscal Recovery Funds. This investment includes funds to assist small businesses as well as hard-hit tourism, hospitality, and event industries impacted by COVID-19. Rhode Island Rebounds is made possible thanks to Governor Dan McKee’s proposal and unanimous approval by the Rhode Island House and Senate.

Click below to learn more about the RI Rebounds programs presently open through RI Commerce. Please check back frequently, as we will continue to update this page and add information about upcoming programs over the coming days and weeks. You may also sign up to receive updates on the programs as they become available using the sign-up feature at the bottom of the page.

Hospitality, Tourism, and Events Grant Program

The RI Rebounds Hospitality, Tourism, and Events Grant Program will provide up to $8 million in direct payments to businesses and organizations that suffered significant negative impacts – generally greater than 35% revenue loss for 2021 as compared to 2019 for purposes of the program – caused by the COVID-19 pandemic.

Applications have now closed.

The RI Rebounds Hospitality, Tourism, and Events Grant Program is divided into 3 distinct funding areas:

  • Restaurants and event professionals
  • Hotels, travel agencies, and tour operators; and
  • Arts and culture

Click here for eligibility requirements, award amounts and important information for applicants.

Small Business Grant Program

The RI Rebounds Small Business Grant Program provides direct financial assistance to our state’s small businesses that have suffered financially due to the COVID-19 pandemic. Grants are available for either $2,500 or $5,000.  The application period closed on Tuesday, February 15, 2022 at 3:30 PM. Click here to learn more.

Take It Outside

The Rhode Island Take It Outside Initiative provides approximately $4.5 million in total awards in a state-wide effort to encourage and increase outdoor activities in an effort to reduce the transmission rate of COVID-19 and support small businesses recovery. For more information about the Take It Outside program, click here.

Placemaking Initiative

The Placemaking Initiative will provide approximately $3 million in subawards to assist the tourism and hospitality (including events) industries in support of outdoor and public space capital improvements and/or event programming, with grants supporting both larger programs (amounting to approximately $200,000), as well as smaller programs (amounting to $75,000 or less). This Placemaking Initiative will focus on developing safe place-based event programming; ensuring existing attractions are more COVID-safe; and improving public spaces.