R.I. Announces Tax Credits to Lure Business - NECN
Rhode Island

Rhode Island

The latest news from around the state

R.I. Announces Tax Credits to Lure Business



    R.I. Announces Tax Credits to Lure Business

    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.

    For up-to-the-minute news and weather, be sure to follow us on Twitter and like us on Facebook. Sign up for our new breaking news email alerts by clicking here and download our free apps here.