The Rhode Island Commerce Corporation’s Manufacturing Equipment Grant Program is a competitive funding opportunity designed to assist small manufacturers in Rhode Island with the cost of acquiring new or used manufacturing equipment. The program provides reimbursement grants of up to $25,000, covering up to 50% of the cost of either a down payment for a financed purchase or a direct cash purchase of eligible manufacturing machinery. The goal of the program is to help modernize, improve, or expand manufacturing operations for small businesses in the state.

As a reimbursement program, funds are only disbursed after an applicant has successfully applied, been approved, and made the eligible equipment purchase. The Rhode Island Commerce Corporation will only pay grant funds to businesses that have submitted a complete application, been awarded a grant, and provided proof of purchase along with necessary financial documentation, including a W9, ACH form, and executed grant agreement. Purchases made before receiving grant approval are not eligible for reimbursement.

To qualify, applicants must be for-profit manufacturing businesses with a physical location or headquarters in Rhode Island that have been in operation since at least January 1, 2021. Eligible businesses must have gross receipts of less than $5 million in 2023, employ 50 or fewer workers (including independent contractors working at least 37.5 hours per week), and be in compliance with all relevant laws and regulations. Additionally, businesses must not be owned by a national or regional franchise, be in or planning to enter bankruptcy, or state receivership. The program is open to companies legally structured as Limited Partnerships (LP), Limited Liability Partnerships (LLP), C-Corporations, S-Corporations, B-Corporations, Cooperatives, or Limited Liability Companies (LLC).

The grant application must be completed online before the deadline of 4:30 PM on March 24, 2025. The Rhode Island Commerce Corporation reserves the right to request additional documentation to verify eligibility. Applications will be reviewed, and selected businesses will be notified of their approval. Once the approved applicant provides proof of purchase and other required documentation, reimbursement will be processed.

For additional information regarding required documentation and eligibility, applicants are encouraged to review the Frequently Asked Questions (FAQ) document provided by the Rhode Island Commerce Corporation.