PROVIDENCE – R.I. Commerce Corp. and Gov. Gina M. Raimondo announced Friday that 153 college graduates who work in STEM – science, technology, engineering and mathematics – and design fields in Rhode Island will receive Wavemaker Fellowship awards.
The fellowship, according to a news release, is a tax credit designed to defray the cost of student loans for at least two years. The average annual award for the group of fellows is more than $3,700, the release states, and more than 400 professionals applied for the awards this year – the most since the program was introduced in May 2016.
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Applicants were evaluated on many points, including on their pursuit of careers in “key advanced industries” and the “impact of the award on the applicants’ decisions to stay and work in Rhode Island,” the release states.
“Over the past four years, Rhode Island has created thousands of new jobs in emerging industries,” Raimondo said in a statement. “This critical program allows us to attract and retain our best and brightest young professionals.”
Commerce RI Secretary Stefan Pryor said in a statement the fellowship program is a “powerful program” to help Rhode Island keep its “fair share” of STEM and design graduates in the state.
James Bessette is a PBN staff writer. Email him at Research@PBN.com.
