A new tax credit aimed at building fast-growing, high-paying industries in Rhode Island offers up to $100,000 to investors who put their money into businesses focused on technology, financial services, manufacturing and other “innovation” sectors.

The purpose of this credit is to try to attract new capital investment into the state in industries that are well positioned for growth, [RIEDC spokeswoman Melissa] Withers said.

By statute, the state will stop offering the tax credit in 10 years unless lawmakers vote to continue it. The EDC can approve up to $2 million in credit applications per year.