General Assembly approves its own business incentive program

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SEN. WILLIAM CONLEY, pictured wearing a gray suite, was a key proponent for creating a Small Business Development Fund as part of the fiscal 2020 state budget. / PBN FILE PHOTO/MICHAEL SALERNO
SEN. WILLIAM CONLEY, pictured wearing a gray suite, was a key proponent for creating a Small Business Development Fund as part of the fiscal 2020 state budget. / PBN FILE PHOTO/MICHAEL SALERNO
PROVIDENCE – Rhode Island lawmakers have inserted a new business incentive program into the state budget that would create a fund for private capital investment in small businesses by federally licensed investment companies in exchange for state tax credits. Introduced by state Sen. William J. Conley Jr., D-East Providence and Pawtucket, and state Rep. Joseph…

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