CEO Guide to Site Selection

Rhode Island

SUPPORTING SMALL BUSINESSES

Rhode Island is investing in its innovation economy with a focus on small businesses. It recently awarded more than $850,000 in funds to support eight organizations that are committed to working with local businesses with mentorship, advisory services, technical assistance, flexible workspaces and access to capital. Recipients include innovation studios and incubators like the New England Medical Innovation Center, Rhode Island Bio and Innovation Studio. The DESIGNxRI’s Design Catalyst program, which
was initially founded to support entrepreneurs in Providence, has also been expanded across the state. In addition, Rhode Island recently launched a new grant program to help reduce energy costs for small businesses. The RI Rebounds Energy Efficiency
Program reimburses small businesses up to $10,000 for energy efficiency measures implemented as the result of an energy assessment or audit.

“In addition to creating good-paying jobs, we must ensure that Rhode Island is an affordable place to live. We must ensure that our young families can purchase their first homes and that our nurses, public safety workers, laborers and teachers can live in the communities they work in.”
Daniel McKee
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Tax Competitiveness Index

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 2020 and 2023

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

DESIGNxRI’s Design Catalyst program has funded the efforts of Providence-based entrepreneurs since it launched in 2016. It is now expanding to support innovators across Rhode Island. Selected entrepreneurs will receive awards of up to $15,000. Since its inception, the program has awarded more than $1.29 million to 81 businesses. 

BIG DEALS

  • Defense technology company Anduril Industries announced in June 2024 it will locate a manufacturing facility in Quonset Business Park.
  • Subsea cable manufacturer Nexans cut the ribbon on the Cambridge Innovation Center in August 2024.
  • Regent Craft announced in September 2024 it would develop a new manufacturing facility in North Kingstown’s Quonset Business Park.

BIG COMPANIES

Five Fortune 500 companies headquartered in state:

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