The Rhode Island Innovation Tax Credit, proposed by the Rhode Island Science and Technology Advisory Council (STAC), will offer investors up to a 50 percent credit on eligible investments, with a maximum tax credit of $100,000.

"This credit directs resources toward innovative, small companies that are well positioned to grow in today's global economy. I believe that these companies will play an integral role in creating jobs and in making Rhode Island a more prosperous place. Although we need to continue to do more to attract investment to Rhode Island, we are excited to put this product into the market..." says EDC executive director Saul Kaplan, who also serves as a member of STAC.