Deadline: 24 March 2025
The Rhode Island Commerce Corporation’s Manufacturing Equipment Grant Program is a competitive program that provides reimbursement grants of up to $25,000 to help eligible Rhode Island manufacturers defray the cost of purchasing new or used manufacturing equipment/machinery to modernize, improve or expand manufacturing processes.
Funding Information
- The minimum amount of funding that can be requested is $2,500. The maximum amount of funding that can be requested is 50% of a cash purchase or 50% of the downpayment of a financed purchase, up to $25,000. As such, if you are requesting more than 50% in either scenario, if your application is approved, you will be awarded less than the amount you requested.
Eligible Expenses
- An application must be for physical equipment/machinery used in a production process in Rhode Island for the actual manufacture or conversion of raw materials or goods; research and development; or quality assurance by an eligible applicant. The applicant can include software and technical assistance costs if those costs are included in a quote from the vendor to implement the equipment/machinery purchase.
Eligibility Criteria
- Eligible applicants are manufacturing businesses:
- Established as for-profit entities primarily engaged in manufacturing;
- That had gross receipts of less than $5 million in 2023;
- Having a physical location (or headquarters) in Rhode Island that began manufacturing operations on or before January 1, 2021;
- Having 50 or fewer employees (including independent contractors that work an average of 37.5 hours per week);
- In compliance with all local, state, and federal laws and regulations;
- NOT in, or planning to enter, federal bankruptcy or state receivership;
- NOT owned by a nationally or regionally owned franchise; and
- Organized as one of the following: Limited Partnership (LP), Limited Liability Partnership (LLP), C-Corporation, S-Corporation, B-Corporation, Cooperative, or Limited Liability Company (LLC).
Ineligibility Criteria
- Any manufacturing equipment/machinery purchased before you receive notification that you have been selected as a Manufacturing Equipment Grant Program awardee by the Rhode Island Commerce Corporation is NOT eligible for reimbursement through the program.
- Sole Proprietorships, General Partnerships and Non-Profits are not eligible for the program.
For more information, visit Rhode Island Commerce Corporation.
