RI.gov R.I. Government Agencies | Privacy Policy |
Ask Us A Question
  • The Ocean State WAVE

    Growing economic opportunities in Rhode Island. Read the presentation here.  

  • Rhode Island Tourism and Business Attraction Branding Campaign RFP

      Learn More

  • World's Largest Prosciutto Factory in RI

    The new 300,000-square-foot, $70-million Daniele charcuterie facility is complete. It incorporates several green elements, including a suite of solar panels installed with the help of a REF grant.   Learn More

  • Think Bigger

    A new economic development website for Greater RI quantifies why Rhode Island is the ideal choice for decision makers looking to relocate, start-up or expand.  Learn More

 

News

RSS
10/17/2017
Governor Gina Raimondo and R.I. Officials Complete Cement Pouring on New Housing Development
PROVIDENCE – October 17, 2017 – Governor Gina Raimondo, Mayor Jorge Elorza, Rhode Island Secretary of Commerce Stefan Pryor and other leaders today completed the pouring of the last of the concrete that will support The Edge, a new ground-up housing development in downtown Providence. The Edge, located at 169 Canal Street in Providence, will create 202 residential units, primarily to be used for student housing. The unit mix will contain studios, one bedrooms, and two bedrooms. There will also be approximately 10,000 square feet of retail space. The project is not affiliated with one specific college or university. "Rhode Island is on the move, and today's concrete pouring for The Edge is just the latest evidence that our efforts are making a tangible difference," Governor Raimondo said. "When this project is done, we'll have hundreds of new apartments and shops anchoring this part of the city, connecting the East Side to the downtown. That means more construction jobs, permanent jobs, tax revenue and overall more economic activity in our capital city." The project was made possible through one of Governor Raimondo's economic development incentives, the Rebuild Rhode Island tax credit, which is managed by the Rhode Island Commerce Corporation. The credit is approved for a maximum of $3,000,000 in tax credits and sales and use tax reimbursement of $1,000,000 for eligible construction and build out costs. Rebuild Rhode Island tax credits are not distributed until the building is awarded a certificate of occupancy. The credits also contain a provision that in certain cases, successful project developers will repay a portion of the credit back to the state. "The Rebuild Rhode Island tax credit has proven to be successful in unlocking development throughout the state," said Rhode Island Secretary of Commerce Stefan Pryor. "This project is the latest in a string of new developments happening across Rhode Island, and is one of the reasons why the state has added construction jobs at a higher rate than anywhere else in the country." "We are seeing more construction in Providence than we have had in about a decade," said Mayor Jorge Elorza. "Our city is experiencing a resurgence as we are creating jobs and growing our economy. We welcome The Edge and look forward to even more groundbreakings in the months to come." "Vision Properties would like to acknowledge Governor Raimondo and the Rhode Island Commerce Corporation's administration of the Rebuild Rhode Island incentive program, as well as the Elorza Administration and Providence City Council as being indispensable partners in bringing to reality this significant project in downtown Providence," said Rick Shaffer, President of Vision Properties. "Throughout my career, I have been fortunate to work with people like Rick who have the courage, drive, and creativity to take on game-changing projects like Edge College Hill," said Zachary G. Darrow, Esq., Chairman, DarrowEverett, LLP. "Thankfully, we have elected officials like Governor Raimondo, Mayor Elorza, and Council President Matos and organizations such as the Rhode Island Commerce Corporation and the Rhode Island Historical Preservation and Heritage Commission that see the great value in welcoming pioneers such as Rick and Vision Properties to Rhode Island and collaborating to make this significant project's such as Edge College Hill a reality." The Edge site sits near another Rebuild Rhode Island project, the Commons at Providence Station, which will consist of 169 residential units. In total, Rhode Island Commerce Corporation projects have helped add more than 1,500 residential units to the state and spur more than $600 million in new development. ###
07/14/2017
Rhode Island Governor Gina Raimondo Presented 2017 BIO Governor of the Year Award
The Biotechnology Innovation Organization (BIO) today presented Rhode Island Governor Gina Raimondo with its 2017 Governor of the Year award in recognition of her leadership and commitment to strengthening the bioscience industry within Rhode Island. Governor Raimondo received the award at the National Governor's Association Summer Meeting, held at the Providence Convention Center. "As Governor, I wake up every morning focused on creating jobs for Rhode Islanders," Raimondo said. "Thanks to our investments in skills training and economic development, our state's biotechnology industry is strong and getting stronger. We will soon break ground on the Wexford Innovation Complex in Providence's I-195 District, and are preparing to launch an innovative workforce program in partnership with the biotechnology industry to provide Rhode Islanders with the skills they need for the biotech jobs we are creating here. I am proud of the progress we've made, and am deeply honored to receive this award." "Governor Raimondo is a tireless advocate for initiatives that support the unique needs of early-stage companies. She works every day to enhance Rhode Island's biotech growth through her strong support for policies that benefit a pro-jobs environment," said Gary Andres, Senior Executive Vice President of Public Affairs of BIO. "Her leadership on the creation of a major life-sciences campus has provided the foundation for attracting and supporting industry growth. The Governor's leadership in this field will continue to benefit her state, in terms of jobs and innovation, for years to come." "From the moment she was inaugurated, Governor Raimondo has been a champion of innovative growth strategies in Rhode Island," said Carol Malysz, Executive Director of MedMates. "By attracting and supporting industry growth and university research, she has been a driving force behind our growing biotech community. On behalf of Rhode Island's life-science community, I commend Governor Raimondo for this well-deserved award."
05/31/2017
The Rhode Island Commerce Corporation (RICC), in partnership with the University of Rhode Island (URI), is inviting interested partners to begin sharing concepts and ideas for an Innovation Campus in preparation for an RFP to be released later this year. The Commerce Corporation has issued an Invitation for Expressions of Interest, with the goal of engendering initial ideas on how parties in industry and academia can come together to create a transformative Innovation Campus in Rhode Island. This competition will ultimately award funds from the $20 million bond issuance approved by Rhode Island's voters in November 2016. "This is another exciting step toward turning our vision for this Innovation Campus into jobs in Rhode Island," said Governor Gina M. Raimondo. "Over the coming months, we will be working relentlessly to ensure that we see truly transformational proposals come together." Rhode Island's Innovation Campus is modeled in part on precedents of industry-academia collaboration at a number of facilities across the country and around the world, including the Clemson University International Center for Automotive Research, The Bridge at Cornell Tech, and the Tannery Innovation Center in Ontario, Canada. "We're looking forward to helping potential applicants understand our state's remarkable assets and, ultimately, to increasing the amount of university and medical center research that gets translated into new economic activity and jobs for Rhode Islanders," said Stefan Pryor, Rhode Island's Secretary of Commerce. "The University of Rhode Island is a major economic asset for the State of Rhode Island and continues to expand its research and development to support the State's economic growth," said David M. Dooley, president of the University of Rhode Island. "The university is well positioned to collaborate with private industry to innovate and produce cutting edge products and technology within an innovation campus." Ultimately, one or more awards will be chosen through a competitive process designed to attract the best possible proposals to commercialize academic research taking place in Rhode Island. The Commerce Corporation envisions successful applicants being consortia of private industry and academic partners, in addition to URI. Development partners will be required to meet or exceed the state's investment from the bond proceeds. Respondents will be offered access to technical assistance workshops to guide concept development. According to research conducted by the Brookings Institution in the Rhode Island Innovates report, Rhode Island is a leading state for university research. Rhode Island institutions conduct over $320 million in research each year, and the 30 percent growth in Rhode Island's research activity has been nearly double the national rate of 16 percent. In November 2016, Rhode Island voters approved a $20 million bond issue to create an Innovation Campus affiliated with URI that will work to bridge the gap between the world-class research occurring at Rhode Island's universities and the opportunity for new startups and job creation that will come with turning that research into commercial activity. As the state of Rhode Island's public research university and a critical partner in economic development and growth, URI offers 80 undergraduate and 70 graduate programs, including leading programs in engineering, health, business, oceanography and pharmaceutical sciences. URI will work closely with the RICC throughout the solicitation process and will collaborate with the designated partner/team to develop and program the Innovation Campus. Interested parties will have until September 15 to present initial concepts. Updates on the competition can be followed at www.commerceri.com/ri-innovation-campus. ###

Press Releases

RSS
10/18/2017
Sends Nomination of Michael McNally for Senate Confirmation to Fill Seat Vacated by Joseph Azrack PROVIDENCE, R.I – Governor Gina Raimondo today announced that she has named Robert C. Davis of South Kingstown as Chair of the 195 Commission. This comes as Joseph F. Azrack announced his...
10/17/2017
The 15-story building will consist of 202 residential units and 10,000 SF of retail space PROVIDENCE – October 17, 2017 – Governor Gina Raimondo, Mayor Jorge Elorza, Rhode Island Secretary of Commerce Stefan Pryor and other leaders today completed the pouring of the last of the concrete that...
10/06/2017
PROVIDENCE, R.I. - Governor Gina Raimondo today joined state and local officials, representatives from Wexford Science and Technology, Brown University, the Cambridge Innovation Center, Johnson & Johnson, and members of the public to break ground on the Wexford Innovation Complex. The projects,

More Press Releases →