Rhode Island Industrial Facilities

The Rhode Island Industrial Facilities Corporation (RIIFC) is a quasi-public state agency and public body corporate established by the Rhode Island General Assembly in 1967. The corporation's primary mission is to foster economic growth and industrial development within Rhode Island by providing low-cost financing solutions to private sector entities. RIIFC is authorized to issue tax-exempt and taxable revenue bonds, construction loan notes, and equipment acquisition notes to fund the acquisition, construction, and equipping of industrial and commercial facilities. While not a life sciences company itself, RIIFC plays a significant role in the sector by acting as a conduit issuer for bonds that finance specialized manufacturing plants and research facilities for biotechnology and healthcare companies. In many cases, RIIFC technically holds title to these facilities as part of the financing arrangement, providing additional benefits such as sales tax exemptions on construction materials.