McKee Administration Announces Incentives for Economic Development and Job Growth

RI Commerce Board awards more than $3.9 million in incentives to support building of a new school, development of new housing units, expansion of local businesses, and creation of new jobs

PROVIDENCE, R.I. – November 4, 2026 – Governor Dan McKee, Chair of the Rhode Island Commerce Board, announced that the Board awarded more than $3.9 million in incentives through Commerce’s Rebuild Rhode Island and Qualified Jobs tax credit programs to support economic development and job growth. The incentives help support the building of a new school, development of new housing units, expansion of local businesses, and creation of new jobs.

"These investments represent an important step in our efforts to drive economic growth, support local businesses, address the housing crisis, and create good-paying jobs for hardworking families across Rhode Island,” said Governor McKee. “I am proud to support these projects which will help build stronger and more resilient communities for years to come."

“We’re pleased to help three Rhode Island businesses expand and produce jobs right here in the Ocean State,” said Secretary of Commerce Stefan Pryor. “Each of these manufacturers are contributing to the growth of our economy – and are creating opportunities for Rhode Islanders.”

Economic Development supported by Rebuild Rhode Island Tax Credits

The Rebuild Rhode Island Tax Credit (Rebuild) program provides redeemable tax credits and sales tax exemptions to close real estate financing gaps for major commercial, residential, and mixed-use developments.

Through Rebuild, Marathon Development would receive an estimated $1,343,277 for the redevelopment of the vacant Flynn Elementary School on Blackstone Boulevard in Providence. The estimated $41 million project will create 100+ new jobs at Envision School, a new Achievement First school, that will consolidate two K-4 schools into a unified K-8 school.

Additionally, 297 Dexter Holdings LLC was awarded $1 million through the Rebuild program for the redevelopment of the historic Hadley Company Building at 297 Dexter Street in Providence. The project will see the currently underutilized building converted into multifamily residential units to help address the ongoing need for housing. The development will create 56 new residential units, 29 of which will be designated as affordable housing (80% of the Area Median Income (AMI)) for a minimum of 30 years.

And American Cord and Webbing (ACW), which has proposed constructing an addition to its existing headquarters in Woonsocket, would receive $450,000 through the Rebuild program. ACW is a family-owned and operated business founded in 1917; it has been operating in Rhode Island since 1990. The company specializes in manufacturing webbing, plastic buckles, metal hardware, cord, and industrial sewn straps sold throughout the world. ACW is the only U.S. manufacturer that produces both webbing and plastic buckles domestically. The construction project would add 30,000 sq. ft. of new ground-up production space. ACW was also awarded $285,000 in Qualified Jobs Incentive Tax Credits for creating at least 17 new manufacturing jobs.

New Jobs supported by Qualified Jobs Incentive Tax Credit

Rhode Island’s Qualified Jobs Incentive Tax Credit (Qualified Jobs) program offers annual redeemable tax credits for the creation of new positions or the relocation of jobs to the state. Tax credits can be awarded for up to $7,500 per job per year, for up to 10 years.

Encore Wire Corporation of McKinney, Texas was awarded $479,531 in Qualified Jobs to create at least 29 new jobs over 10 years. Encore Wire is considering expanding its Lincoln facility to increase its manufacturing of a specialized wire. Encore Wire manufacturers copper and aluminum for residential, commercial, and industrial wire needs.

Edesia Nutrition was awarded $395,438 in Qualified Jobs to create at least 20 new jobs at its manufacturing facility located within the Quonset Business Park. Edesia is a nonprofit food manufacturer that produces ready-to-use therapeutic and supplementary foods worldwide. The company is expanding its existing 83,000 sq. ft. facility to 294,000 sq. ft. to meet growing demand and address new processes to maintain food safety.

Rhode Island Media Contact
Giselle Mahoney
Chief of Communications, Executive Office of Commerce
Giselle.Mahoney.CTR@commerce.ri.gov
+1 401 545 0626