The City of Cranston

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Economic Development

Local Tax Incentives

Related Files:

Tax Incentive Application Request
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The City of Cranston offers comprehensive tax incentives to qualified businesses:

* No Wholesale Inventory Tax

Five year incentive: Tax phase-in for all new construction or renovation on a commercially or industrial zoned property requires a minimum construction cost of $500,000 and not to exceed $2,000,000.


Ten year incentive: Tax phase-in for all new construction or renovation on a commercially or industrial zoned property requires a minimum construction cost of greater than $2,000,000 or the purchase of an existing facility with a minimum purchase price of $2,500,000.


Fifteen year incentive: Tax phase-in for all new construction of an industrial facility with a minimum acquisition/construction cost of $12,000,000.00. Renovation of an existing industrial facility with a minimum construction cost of $12,000,000.00. Purchase of an existing industrial facility with a minimum purchase price of $12,000,000.00 or any combination of construction, renovation and purchase as set forth above with a minimum cost of $12,000,000.00.


Twenty year incentive: Tax phase-in for all new construction of an industrial facility with a minimum acquisition/construction cost of $20,000,000.00. Renovation of an existing industrial facility with a minimum construction cost of $20,000,000.00. Purchase of an existing industrial facility with a minimum purchase price of $20,000,000.00 or any combination of construction, renovation and purchase as set forth above with a minimum cost of $20,000,000.00

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