Innovation voucher recipients identified

GOV. GINA M. RAIMONDO said the more than $9 million in state development incentives that were approved will strengthen the state's
GOV. GINA M. RAIMONDO said the more than $9 million in state development incentives that were approved will strengthen the state's "growing innovation economy." / PBN FILE PHOTO/ MICHAEL SALERNO

PROVIDENCE – There were 34 applicants, but 11 companies will receive state innovation vouchers allowing them to partner with a local university, research center or medical center for research and development assistance with a specific project.
On Monday evening, Gov. Gina M. Raimondo and the R.I. Commerce Corp. approved incentive agreements representing more than $9 million in tax credits and grant funding for new construction and to support research and development, including the $451,897 in innovation vouchers.

Companies receiving vouchers are:

  • Agcore Technologies LLC, $50,000 – Cranston
  • Applied Radar Inc., $10,000 – North Kingstown
  • CBC LLC, $50,000 – Warwick
  • EpiVax Inc., $50,000 – Providence
  • Full Measure LLC, $48,814 – Bristol
  • HMSolution Inc., $20,000 – Providence
  • Materials Science Associates LLC, $50,000 – North Kingstown
  • Pilgrim Screw Corp., $49,921 – Providence
  • S2S Surgical LLC, $37,613 – East Greenwich
  • Vitae Industries Inc., $40,000 – Providence
  • Yushin America Inc., $45,459 – Cranston

Industries including aquaculture, defense, advanced manufacturing, biomedical engineering and technology, and pharmaceuticals are represented, according to a Commerce RI news release.

“These programs are working together to put shovels in the ground, re-energize vacant developments and bring more high-skill, high-wage jobs to our state,” Raimondo said in a statement. “We provided vital funding for three construction projects that wouldn’t have been able to move forward otherwise and awarded almost half of a million dollars in R&D grant funding, which will strengthen our growing innovation economy. Rhode Island has momentum again – we are showing we are competitive with other states and back in the game.”

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In addition to the 11 innovation vouchers, the approved agreements represent one tax stabilization development and two Rebuild Rhode Island Tax Credit projects.

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