R.I. Announces Tax Credits to Lure Business

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NBC Local Media

Companies that are willing to expand in Rhode Island or relocate to the state and guarantee new jobs would be eligible for tax credits under new incentive programs unveiled by Gov. Gina Raimondo.

Raimondo unveiled the initiatives on Monday, saying they were aimed at jumpstarting economic growth around the state.

The Qualified Jobs Incentive Program would offer a base tax credit for companies that create a minimum threshold of new jobs by relocating to or expanding in Rhode Island. The base credit would be $2,500 for each new job created.

Another program, called the Rebuild Rhode Island Tax Credit, would provide a credit of up to 20 percent of project costs for certain real estate projects value at $5 million or more.

Copyright AP - Associated Press
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