Rhode Island Qualified Jobs Incentive Tax Credit
Rhode Island Commerce Corporation
$2,500–$7,500 per new job, up to 10 yrs
RI pays up to $7,500/job/year for 10 years for job creation
Rhode Island's Qualified Jobs Incentive Tax Credit awards up to $7,500 per new full-time job per year for up to 10 years to businesses that create or relocate at least 10 qualifying jobs to the state. Credits are redeemable — unused credits can be sold, transferred, or redeemed by the state at 90% of face value. Prior approval from RI Commerce required before claiming. CEO must attest the job creation would not occur but for the credit. Program authorized through December 31, 2026.
- Funding type
- Tax Credit
- Level
- State
- Amount
- $2,500–$7,500 per new full-time qualifying job per year, for up to 10 years. Actual credit is capped by actual W-2 withholdings for each employee. Unused credits are transferable and redeemable by the state at 90% of face value. 4-year carryforward.
- Realistic amount
- A company creating 20 jobs at $7,500/job/year earns $150,000/year in credits for up to 10 years. Total maximum credit po…
- Deadline
- Rolling — apply through December 31, 2026 (current program authorization sunset). Contact RI Commerce Investments team to initiate.
- Status
- active
- States
- RI
- Payment model
- tax offset
Who qualifies
- Business registered to do business in Rhode Island
- Must create or relocate at least 10 new full-time jobs to Rhode Island (threshold may vary by industry and existing RI headcount)
- New jobs must meet or exceed specific wage thresholds to qualify for the maximum credit rate
- CEO must attest under oath that job creation would not occur in RI but for the tax credits
- Prior approval from Rhode Island Commerce Corporation required before credits can be claimed
- For-profit businesses only
Hard requirements
- Location restriction: Rhode Island
- Requires creating at least 10 new jobs
What it covers
Eligible expenses
- No specific expense requirement — credit is calculated per new full-time qualifying job created in RI
- Jobs must be full-time, permanent, and located in Rhode Island
Ineligible expenses
- Part-time or temporary jobs (credits are for full-time, permanent positions)
- Jobs that would have been created in RI regardless of the credit (fails 'but for' test)
- Jobs relocated from within Rhode Island (must be net new to RI, not internal transfers)
How to apply
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1
Contact RI Commerce Investments team
Email investments@commerceri.com or call (401) 278-9100 to discuss your business's job creation plan and confirm eligibility. RI Commerce will assess whether your project meets the 'but for' test and the wage and job count thresholds.
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2
Submit formal application with job projections
Prepare documentation: business plan, 3-year job creation projections, projected wages for each new position, evidence of RI business registration, and the CEO attestation. Submit to RI Commerce.
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3
Receive credit authorization certificate
RI Commerce reviews the application and issues a credit authorization certificate to approved businesses. This certificate establishes the maximum credit amount and 10-year eligibility period.
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4
Create the qualifying jobs in Rhode Island
Hire the projected employees at qualifying wages in Rhode Island. CPA certification of actual job and wage data is required annually.
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5
Claim, transfer, or redeem credits annually
Claim credits on your RI tax return, carry forward up to 4 years, transfer/sell to another RI taxpayer, or redeem with the state at 90% of face value for cash.
Credits are redeemable at 90% face value — companies with little RI tax liability can effectively sell credits for cash. The 'but for' attestation is a real legal commitment.
Deadline & timing
The current program authorization sunsets December 31, 2026. New authorizations may not be issued after that date unless the legislature extends the program. Applications must be submitted and approved before credits can be claimed.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.