Business Excellence Awards
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By PBN Staff
In the last two years, Rhode Island has reported issuing more than $52 million in tax credits and incentives as part of six programs, many of them designed to help create jobs in the Ocean State.
The lion’s share of the credits have gone to CVS Caremark Corp. and its subsidiary, CVS/pharmacy, a total of roughly $36 million. The company has calculated that it contributes more than $1 billion to the state’s economy every year and generates about 20,000 direct and indirect jobs.
Are the state’s tax credit programs a good way to invest in its economy?