CEO Guide to Site Selection

Rhode Island

WINNING WITH LOCAL OPPORTUNITIES

For a tiny state like Rhode Island, small businesses can have a big impact on the economy. In late-2022, Governor Daniel McKee announced a $12.5 million grant program to assist small businesses impacted by the pandemic, offering up to $5,000 for companies that meet specific criteria. The Rhode Island Commerce Corporation also announced a partnership between its SupplyRI initiative and Mayflower Wind, the developer of an offshore wind energy project on the coast. It will help connect local suppliers to the needs of larger Rhode Island institutions. Several notable companies, including Saab, Regent and Ancora, have announced expansions here in in the past year.

“Some economists say that our economy may struggle in the coming months and years. That may or may not be true—but either way, Rhode Island will be ready. You’ve heard me say it before: the best way to lessen the impact of an economic downturn is to invest in J-O-B-S, good-paying jobs.”
Dan McKee
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of adults 25 years of age and older graduated high school

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

No

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

decrease between 2010 and 2020

KEY INCENTIVES

Qualified Jobs Incentive Tax Credit: Offers up to $7,500 per job per year for up to 10 years for companies that expand the workforce in or relocate jobs from out of state.

Rebuild Rhode Island Tax Credit: Fills financing gaps with redeemable tax credits covering up to 30% of project costs for commercial office, industrial, residential, mixed-use development, ground-up construction or historic rehab for projects of at least $5 million.

Innovation Voucher Program: Offers up to $50,000 for companies with 500 employees or less to support R&D projects that commercialize a new product, process or service, support scale-to-market development or new expertise.

EDCs

Rhode Island Commerce

commerceri.com

Division of Statewide Planning

planning.ri.gov

City of Providence Business Portal

providenceeconomicdevelopment.net/business-portal/index.php

City of Warwick Department of Economic Development

movetowarwickri.com

HIGHLIGHTED PROGRAM OR INITIATIVE

Now in its eighth year, DESIGNxRI’s Design Catalyst Program will expand to support innovators from throughout the Ocean State. Design Catalyst is a competitive, milestones-based grant program for Rhode Island creative businesses and offers seed capital, business mentorship, professional development training and peer-to-peer networking.

BIG DEALS

  • Saab announced in April 2022 it will open a new autonomous and undersea systems division at a new production facility in Cranston.
  • Regent announced in April 2023 it will expand its global headquarters and manufacturing facilities in Rhode Island to begin fulfilling $8 billion in commercial orders by mid-decade.
  • The U.S. Interior Department announced in August 2023 the construction of a 704-megawatt wind farm off the coast of Rhode Island.
  • Ancora L&G announced in August 2023 it will develop a 210,000-square-foot life sciences building in Providence.
  • ENNOVI announced in October 2023 an expansion of manufacturing operations in the state.

BIG COMPANIES

Six Fortune 500 companies headquartered in state: 

  • CVS Health
  • United Natural Foods 
  • Textron
  • Citizens Financial Group 
  • FM Global
  • Hasbro
Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.