Industrial Facilities Corporation, Board of Directors


Contact Information

Stacy Farrell
401-278-9100




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The Rhode Island Industrial Facilities Corporation (RIIFC) was created by the Rhode Island General Assembly in 1967. The Corporation constitutes a body corporate and politic and a public instrumentality of the State having a distinct legal existence from the State. The Corporation is empowered to issue bonds for private sector entities to expand their facilities. They can also act as a local development corporation.
The Rhode Island Industrial Facilities Corporation (RIIFC) issues tax-exempt and taxable revenue bonds without guarantee or insurance for the applicant. Tax-Exempt Bonds: Maximum limit is prescribed by IRS (Normally to $20 million). Terms are dependent upon the bond purchaser. Manufacturing projects are eligible, up to 100% of the project cost. Floating or fixed rate applied, determined by the market. An administrative fee of 1/8 of 1% is charged annually on outstanding principal balance. Taxable Bonds: Maximum limit established by bond purchaser or credit enhancer. Terms are established by lender. Manufacturing, selected commercial facilities, and travel-tourist facilities are eligible, up to 100% of the project cost. Rate is usually floating, dependent on lender. An administrative fee of 1/8 of 1% is charged annually on outstanding principal balance. Approved use of funds for both tax-exempt and taxable bonds includes the purchase of land, building, machinery, and equipment as well as the related soft costs of the project.

Title Name Phone Number Email
Treasurer William Ash 401-278-9100 x184
Secretary Stacy Farrell 401-278-9100 x126 [email protected]


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