Tax credit for investment in innovation-based industries

STAC-proposed program will offer up to $100,000 in tax credit

The Rhode Island Innovation Tax Credit...will offer investors up to a 50 percent credit on eligible investments, with a maximum tax credit of $100,000.

The program will be managed by the Rhode Island Economic Development Corporation (EDC) (www.riedc.com).

"Supporting entrepreneurs and attracting investment to Rhode Island is central to our efforts to build a 21st century innovation economy that produces high-wage jobs for all Rhode Islanders," says EDC executive director Saul Kaplan, who also serves as a member of STAC.

Full Story: Rhode Island Launches Tax Credit for Investment in Innovation-based Industries Source: RIEDC, June 28th, 2007