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Economic Development

The City of Pawtucket works to assist businesses in ways consistent with its strategic plan. The City has an economic development office with a customer-friendly approach to troubleshooting zoning, site selection and various business growth issues.

Flexible financing tools are among Pawtucket’s resources to help businesses grow. Through the Pawtucket’s Business Development Corporation (PBDC), the City provides programs that include:

Commercial Ventures: Provide matching loans to retail and service-sector borrowers, including start-ups. Eligible uses of funds include inventory and lease-hold improvements (term not to exceed 3 years, maximum loan up to $10,000).

Equipment Loans: Providing matching loans to industrial borrowers working to purchase equipment or upgrade existing equipment. Borrower is allowed to borrow up to 90% of value of equipment (not to exceed 5 years and $50,000).

Real Estate Loans: To enable industrial and commercial borrowers to acquire and rehabilitate real estate. Borrower is allowed to borrow up to 90% of the value of the real estate (not to exceed 10 years and $100,000).

Working Capital Loans: Provide working capital for inventory materials, marketing and related expenses to industrial and commercial borrowers (not to exceed 3 years and $50,000). Relocation loan-related expenses for businesses moving into the city are included in this program.

Restaurant Loans: Providing incentive funding for the improvement and/or expansion of restaurants located in the City’s 307 acre Arts & Entertainment District or those interested in relocating to this area. Borrower is allowed to borrow up to $50,000. The terms of the loans are determined by use of funds: Working Capitol (3 years); Real Estate (10 years); Equipment (5 years).

Fire Safety Loans: Providing building owners and long-term lessees with funding to upgrade existing commercial properties to meet Rhode Island’s Fire Safety Code.

Other Economic Development Services

  • Property Search – We offer property searches to assist businesses seeking information about properties in Pawtucket that are for sale and/or for lease. Detailed information about each property is made available including characteristics such as ceiling height, loading docks, utilities and asking price for sale and/or lease.

Other additional information on available properties in Pawtucket - https://www.opportunityspace.org/

Other Programs:

  • State Tax Incentive Program in City’s Arts & Entertainment District -Providing state income tax incentives for eligible artists residing in the City’s Arts and Entertainment District. 
  • Streamlining Pawtucket’s Regulatory Process – The City of Pawtucket works together with developers to bring their buildings up to fire and safety codes. Every Thursday, from 2:00 p.m. to 4:00 p.m., the Zoning, Fire and Planning Departments meet together with developers to discuss their specific projects. Once a month, a meeting is held between developers and City regulatory officials and the Mayor’s Office to determine how the City’s continue to stream-line its regulatory process while ensuring safety. Also, a Guide to Permitting manual has been compiled; codifying the City’s permitting process.  View Permitting Guide

Contact

Click to email me Herb Weiss 

Economic Development Information

Resources

Community & Business Partner Spotlight: Northern Rhode Island Chamber of Commerce

  • April 19, 2018
  • Uncategorized

A strong economy is necessary for any city looking to grow.The history of the first chamber of commerce takes us all the way back to 1599, in Marseille, France. At that time, the establishment of...  Read More >

City Speak
"The birthplace of the American Industrial Revolution, Pawtucket is poised to undergo a 21st century evolution into Rhode Island's premier arts and cultural destination, an ideal community to live, work, play, start a business and raise a family."

- Mayor Donald R. Grebien

New Event

Mayor's Community Meeting Updated Schedule

  • April 2, 2018
  • Event

Mayor Donald R. Grebien and City officials from City Hall, are holding a series of community meetings for constituents and residents for the second year. The meetings will take place in each of the...  Read More >