Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Manufacturing Grants topic
No spam. Unsubscribe anytime.
Commerce RI unveils $25,000 equipment grant for small manufacturers
Summary
Commerce Rhode Island announced a Manufacturing Equipment Grant that will reimburse up to $25,000 (50% reimbursement) to help eligible small manufacturers buy new machinery; applications open Feb. 5 for companies with gross receipts under $5,000,000 and fewer than 50 employees.
Commerce Rhode Island on Thursday introduced a Manufacturing Equipment Grant designed to help small manufacturers buy or upgrade machinery. "It's gonna allow up to $25,000 worth of grant funding to help manufacturers upgrade, purchase new machinery equipment," said Chris Kanata of Commerce RI.
The grant will reimburse 50% of eligible purchases and is aimed at firms with gross receipts under $5,000,000 and fewer than 50 employees; Commerce said applications will be available Feb. 5 and program rules and details will be published online. During a Zoom question the program's eligibility was clarified: revenue less than $5,000,000 AND fewer than 50 employees.
Commerce framed the grant as one among multiple resources — including tax credits and financing tools — to help manufacturers scale production and access capital. Officials urged businesses to contact Commerce staff for one-on-one support and noted more detailed guidance will follow when full program rules are posted.
