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