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Mount Hope Enterprise Zone (EZ)

This page attempts to answer any questions about the Enterprise Zone. If you need more information please contact the Executive Director.

ON THIS PAGE:

Contact Information What is an Enterprise Zone? What is the EZ Program? What are the EZ Program Requirements?

How can it help me? Do I need permits? Travel

Contact Information

Office located on the first floor of the Town Hall
514 Main Street
Monday - Friday, 9:00 am - 4:00 pm

J. Alan Crisman - Executive Director
Telephone #: (401) 245-4222
Fax #: (401) 245-7421
E-Mail Address: jacrisman@aol.com

What is an Enterprise Zone?

— An Enterprise Zone is an economically distressed region within the state.

— An Enterprise Zone is characterized by high unemployment rates and unusually high poverty rates.

— An Enterprise Zone usually suffers from the closing or relocation of one or more large employment facilities, leaving workers stranded.

What is the EZ Program?

The Enterprise Zone Program was established by legislation to promote business retention and expansion in distressed areas of the state. The main objective of the program is to stimulate growth in the private sector by rewarding the creation of new, full time jobs and to fill those jobs with Rhode Islanders. The program is designed to provide a comprehensive and aggressive package of incentives and tax relief to businesses willing to relocate or expand into an Enterprise Zone. Included in the package of incentives are various financing alternatives, job training programs, and permit expediting on both the state and local levels.

What are the EZ Program Requirements?

A participating firm must be doing business from a facility physically located in the Enterprise Zone. Membership is accorded only to a facility located in the zone, regardless of how many facilities the firm many have elsewhere. Tax credits granted to a firm apply to and can be used in the Current Calendar Year. Unused credits may be carried forward for three years.

To receive tax credits, the firm must:
1. Increase its Enterprise Zone work force by a minimum of 5% (or at least 1 if the work force is 20 or fewer.)
2. Create permanent, full time jobs (30 hours per week or more) that begin and end the work day at the firm's facility in the zone.
3. Hire residents of Rhode Island for the newly created jobs.
4. Retain employees hired for newly- created jobs on the payroll through December 31st of the year in which the credit is claimed.
5. Increase its total Rhode Island payroll for the year in which the credit is claimed.
6. Sign an affidavit declaring that the firm has not changed its organizational form in the last 12 months to take advantage of the credits offered by this program.

Rhode Island firms that fulfill the above requirements can claim 50% of the wages paid to new hires (in the calendar year they were hired) up to a total of $10,000.00 per worker.

Beginning in 1999, if a new hire is not only a Rhode Island resident, but a resident of any Rhode Island Enterprise Zone, the tax credit increases to 75% of the wages paid up to a total of $15,000.00.

How can it help me?

Property Tax Stabilization: The Town of Warren offers tax abatement programs to businesses who build new or expand existing facilities in the area. Tax abatement programs apply to new buildings or significant expansions to existing buildings and run for a period of five years. When authorized, taxes are collected on a new or expanded facility at the rate of 0% of assessment in the first year, 20% in the second year, 40% in the third year, etc.

Do I need permits?

The Town of Warren has streamlined its permit process to simplify the interface and improve business relations. Services are also available to help coordinate with various State Department and agencies when the need arises.

Travel

The quiet easy living of Warren is just minutes away from Providence, Newport, Fall River, and Boston. These bustling centers provide many diverse cultural, sports, and entertainment opportunities in convention centers, theaters, and sports complexes.