Building a Rhode to Prosperity

Enhancing Workforce Development and Postsecondary Education

• Achieved the highest monthly job count recorded in Rhode Island history in May 2025, with total nonfarm employment reaching 516,900—an increase of 4,800 jobs compared to May 2024.
• Released, though the Governor’s Workforce Board, the 2025 Real Jobs Rhode Island Partnership Proposal solicitation, inviting qualified organizations to partner with the state on employer-led, data-informed workforce development initiatives that address industry needs, advance worker skills, and strengthen Rhode Island’s economy. Real Jobs Rhode Island prioritizes long-term career pathways and measurable economic outcomes through strategies such as training and placement for unemployed or underemployed individuals, upskilling for advancement, and support for entrepreneurship. 

• Launched the Rhode Island Registered Apprenticeship Program for Principals (RIRAPP)—one
  of the first in the

nation—to expand the pipeline of qualified school leaders. Developed by RIDE in partnership with the Center for Leadership and Educational Equity, the program offers aspiring principals 
a hands-on, earn-while-you-learn pathway to school leadership in response to the national shortage of building-level administrators. 

• Secured a $4.2 million competitive Registered Apprenticeship grant from the U.S. Department of Labor to expand work-based learning opportunities over a three-year period (July 2025–June 2028), advancing our Rhode to Prosperity goals. 
• Launched the Environmental Management Fellows Program (EMFP) in partnership with Department of Environmental Management (DEM), University of Rhode Island (URI), and CCRI to create experiential learning, professional development, and career pathway opportunities for students in environmental management, with mentor recruitment underway and student placement beginning in the fall.

Improving the Housing Ecosystem and Prioritizing Homeownership

• Released a draft of Housing 2030, Rhode Island’s first statewide housing plan since 2006, which sets ambitious goals for the production and preservation of housing at every level and in every municipality. Housing 2030 is a comprehensive, actionable plan that outlines strategies aimed at tackling key barriers to housing production, including restrictive zoning regulations, the rising cost of construction, and gaps in funding.
• Streamlined the state’s housing governance structure through statutory changes included in the Governor’s FY 2026 budget that centralized policy and strategic planning within the Executive Office of Housing, improved funding mechanisms, and established direct leadership connections with key entities, including RIHousing, the Interagency Council on Homelessness, and a newly created Interagency Council on Housing Production and Preservation.
• Used State Low-Income Housing Tax Credits (SLIHTC) in FY2025 to close the funding gap for the construction or preservation of over 500 homes across the state.
• Established the Municipal Fellows Program, a new housing development-focused initiative that places early-career professionals in roles focused on planning, zoning, and housing development, to support municipal efforts to increase housing production as well as grow the pipeline of planners in the state.
  • Directly supported eight municipalities in 2025 by awarding approximately $1.1 million in Municipal Fellows grants.
• Building on the success of this local home repair initiative, expanded the Home Repair Program statewide, using $6 million of the newly approved $120 million housing bond.

Supporting Small Businesses and Creating a Competitive Tax Environment 

• Upgraded Rhode Island’s credit rating to ‘AA+’ from Fitch Ratings, who cited the McKee Administration’s cautious and disciplined fiscal management, improved long-term liability outlook, and consistent use of conservative budgeting with strong spending controls. This higher rating reduces the state’s borrowing costs and reinforces investor confidence, helping to attract private investment and fuel long-term economic growth. Additionally, S&P affirmed Rhode Island’s AA rating/stable outlook and Moody’s affirmed our Aa2 rating/stable outlook.
• Signed legislation into law in 2025 closing the payday lending loophole that allowed payday lending outfits to charge interest of up to 260 percent on short-term loans. The loan interest is now capped at 36 percent.
• Awarded 10 Innovation Voucher grants totaling $722,721 between November and May 2025 to support research and development efforts across sectors including defense and law enforcement, the ocean economy, and broadband technology.
• Through the Network Matching Grant program, awarded over $360,000 in May 2025 for five grants to intermediary organizations that support small businesses in key industries such as food and agriculture, technology, energy, defense, manufacturing, and ocean economy.

• In partnership with DOA’s Division of Equity, Diversity, and Inclusion (DEDI) and RI Commerce Corp, completed intermediary-based technical assistance and direct grant programming for the Minority Business Accelerator in May 2025. A total of 1,404 businesses participated in 882 services, including trainings, mentorship, direct services, and networking events. Additionally, 129 businesses submitted applications to become DEDI-registered, and 244 businesses received direct grants ranging from $5,000 to $20,000, totaling $2.13 million.

Driving Economic Development and Growth 

• Achieved a 10-spot improvement in Rhode Island’s overall ranking in U.S. News & World Report’s “Best States,” rising from #34 in 2021 to #24 in 2025. The state’s Economy ranking climbed from #28 to #16 during that period, including a #8 ranking in Business Environment and an eighteen-spot leap to #14 in Growth over the past year. Rhode Island also improved its Opportunity ranking by nine places, from #33 to #24, and advanced 11 places in Short-Term Fiscal Stability within the last year.
• Ranked 14th in the nation for average private-sector hourly earnings, according to June
  2025 data from the U.S. Bureau of Labor Statistics, highlighting Rhode Island’s continued progress toward higher wages and stronger economic opportunity for workers statewide.
• Attended the opening game of the Rhode Island Football Club (RIFC) after casting the tie-breaking vote to approve the Centerville Bank Stadium (also known as Tidewater Landing) project—a major economic development initiative that created a state-of-the-art sports stadium and entertainment venue with a capacity of 10,500. In addition to being the home of the RIFC, the stadium will be complemented by new housing and commercial retail space, spurring economic activity throughout the Blackstone Valley.

• Positioned Rhode Island as a leader in the ocean economy by attracting companies in offshore wind energy, defense, shipbuilding, aquaculture, seafood, and other blue-economy sectors to capitalize on Rhode Island’s strategic location and resources.  Fostering innovation across these sectors will spur economic growth and generate jobs in ocean and undersea technology industries, contributing to a more prosperous and resilient future for Rhode Islanders.
  • Supported REGENT Craft’s development of electric seagliders, with the company’s CEO highlighting Rhode Island’s potential as the nation’s manufacturing hub for seagliders and a continued leader in composites manufacturing and ocean economy growth
  • Encouraged defense and marine technology advancements with companies like MIKEL (torpedo tracking systems), Saab (drone submarines), and Anduril (autonomous military submarines).
  • Invested in Unity Park in Bristol as a center of blue-economy innovation, featuring firms like Flux Marine (next-generation outboard motors) and Sealegs (amphibious boats).
  • Hosted the 10th annual Blue Innovation Symposium—one of the premier ocean economy events in the United States—in 2025, featuring tours of key ocean economy sites in Bristol and North Kingstown to highlight Rhode Island’s industry leadership.

• Awarded $9.7 million through the Innovation Campus Grant Program in June 2025 to advance ocean technology commercialization and job creation in Rhode Island. The initiative brings together industry, academic, and research partners, with the latest grants projected to generate 425 new jobs and leverage significant private and federal investment.
  • Awarded $4 million to establish the Blue Robotics Lab at Unity Park—a nonprofit lab-to-market incubator accelerating the development and commercialization of undersea robotics, operated by MassRobotics.
  • Awarded $5.7 million to launch the Ocean Technology Innovation Center at URI’s Bay Campus in Narragansett—a collaborative maker space supporting startups and companies leveraging URI’s advanced ocean testing facilities.
• Launched the Invention Incentive Program, to support Rhode Island small businesses and individuals filing patent applications with the U.S. Patent and Trademark Office (USPTO). The program offered grants of up to $5,000 to reimburse eligible expenses such as application fees or services provided by a Rhode Island–licensed USPTO-registered patent practitioner.
• Supported job creation and economic growth through the Qualified Jobs Incentive program, including $1.02 million awarded to Saab in December 2024 to create 45 new jobs at its new Autonomous Undersea Systems facility in Bristol, and $3.23 million awarded to Blount Fine Foods Corp. in January 2025 to support at least 120 full-time jobs as it relocates its corporate headquarters back to Rhode Island.
  
   

• Established the Rhode Island Venture Capital Fund to strengthen the state’s entrepreneurial ecosystem by supporting companies in the pre-seed and seed funding stages—addressing a common challenge cited by small businesses: limited access to early-stage capital for high-growth startups.
• Launched the Manufacturing Equipment Grant Program, which will reimburse up to 50 percent of a cash purchase or 50 percent of a down payment for a financed purchase, with a cap of $25,000.
• Finalized the regulatory framework for both adult-use and medical cannabis in spring 2025, marking the Cannabis Control Commission (CCC) as an independent body and establishing the Cannabis Office as its day-to-day operational arm.
• Opened the previously qualified applicant pool
  for the Zone 1 Compassion Center License to satisfy the Medical Marijuana Act’s requirement
  of nine compassion centers statewide.