Forest ProductsTax Credit Sourcebook

Rhode Island · Investment · RI-REBUILD-001

Rebuild Rhode Island Tax Credit

Publication revised September 24, 2026. Sourcebook page 236.

Credit amount / calculation

Project-specific credit based on eligible development costs and demonstrated need.

Business fit and eligible activity

Large fixed-site projects can receive a negotiated tax credit when financing gaps and project requirements are met. Qualified investment or approved project activity; confirm eligible property, location and taxpayer type.

Eligibility and practical use

This is the kind of credit that can matter to a capital-intensive mill even when the project adds only a handful of jobs. Logging equipment deserves a separate eligibility check because mobile harvesting property may be treated differently from machinery used at a manufacturing site. Check the approval deadline before signing a purchase order or contract. A binding commitment made too early can disqualify a project.

Illustrative business benefit

A sawmill is replacing a headrig and adding scanning, material handling, and electrical controls in a project of roughly $2.40 million. The credit calculation would be based only on the costs the program recognizes as qualified investment. Before issuing purchase orders, the mill should obtain a written view on whether installation, electrical work, used equipment, and software are included.

Timing / first action

Seek approval before starting the overall project, including site work or construction. Contact the administering agency and secure the required approval before the project is publicly or contractually committed.

Official sources

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