City of Newport
The City of Newport works to assist businesses in ways consistent with its strategic plan.
Providing user-friendly access to permitting and zoning assistance is a key service to new and growing businesses.
Business Development Initiatives
- Revolving Loan Fund Program - designed to assist small businesses with start-up or expansion activities that will create new jobs or retain existing jobs. Eligibility requirements are as follows: The applicant business must be located in Newport; the loan must result in the creation or retention of permanent full-time jobs; the applicant must show that credit is not otherwise available to carry out the activity; must demonstrate the ability to repay and be prepared to offer collateral on the loan and have a financially-sound business plan.
- Tax Stabilization on Capital Improvements - to encourage the re-use of historic properties for economic development, the City of Newport may provide tax relief for the expansion, renovation, or development of older commercial or industrial buildings. A five-year pro-rate tax exemption on the value of the improvements made to the building is available on expansion or renovation projects that increase the value of the property by a minimum of $100,000, provided the improvements conform to the standards set forth by the Historic District Commission.
- Enterprise Zone Program - Businesses located within the designated Enterprise Zone may qualify for various tax benefits linked to job creation and business type.
Contact
Paige R. Bronk, Planning, Zoning, Development & Inspections Director
Address
43 Broadway, Newport, RI 02840
Telephone
401-845-5450
Fax
401-846-1824
Email
pbronk@cityofnewport.com
Internet