Here are 51 business stats about Rhode Island for 2025.
Basics:
Population: 1,095,962 (US Census 2020)
Population desnity per square mile: 1,061.40
GDP: $77,322 (millions USD)
GDP Per Capita: $71,122
Median household income (in 2022 dollars): $81,370
Real GDP Growth Rate: 1.60%
Total Employment: 583.2k
Unemployment Rate: 3.2%
Rankings
% Share of National Economy: 0.28%
State Economic Growth Rank (out of 50): 44
Population Growth Rank (out of 50): 17
Business Growth Rank (out of 50): 21
State Growth Rank in Employment (out of 50): 5
Biggest Industries In Rhode Island By Revenue
- Third-Party Administrators & Insurance Claims Adjusters: $9.3b
- Commercial Banking: $6.4b
- Health & Medical Insurance: $6.2b
- Colleges & Universities: $6.1b
- Property, Casualty and Direct Insurance: $4.5b
- Hospitals: $4.4b
- Scientific Research & Development: $4.4b
- Pharmacies & Drug Stores: $3.6b
- Public Schools: $3.6b
- Supermarkets & Grocery Stores: $3.2b
Biggest Employers In Rhode Island
- Lifespan Health System: 15,000 (2.6%)
- Care New England Health System: 7,500 (1.3%)
- Roman Catholic Diosese of Providence: 7,500 (1.3%)
- Cvs Health Corporation: 7,500 (1.3%)
- Brown University: 4,765 (0.8%)
- Walmart: 2,568 (0.4%)
- United States Postal Service: 2,170 (0.4%)
- Home Depot: 1,754 (0.3%)
- Amazon.Com: 1,000 (0.2%)
- Target Corp: 956 (0.2%)
Small Businesses In Rhode Island
Number of Small Businesses 105,320
Percent of bossiness that are small businesses: 98.90%
Number of employees: 228,107
Share of Employment: 51.20%
Number of New Businesses In The Past Year: 6,621
Number of Businesses That Closed In The Past Year: 4,036
Net Change In New Businesses: 2,585
Number of Businesses With No Employees: 82,340
Number of Businesses with 1-19 Employees: 20,141
Number of Businesses with 20-499 Employees: 2,839
Share of Businesses Owned By Women: 41.50%
Share of Businesses Owned By Veterans: 6.20%
Share of Hispanic Owned Businesses: 12.60%
Share of Businesses Owned By Racial Minorities: 9.30%
Fortune 500 Companies In Rhode Island
Number of Fortune 500 Headquaters: 4
Biggest Company: CVS Health
Biggest Company Type: Health Care: Pharmacy and Other Services
Number of Employees: 259,500
Revenue (in millions): $322,467
Taxes In Rhode Island
State Corporate Tax Rate: 7.00%
State Corporate Tax Rate Brackets: $0
State Sales Tax Rate: 7.00%
State Sales Tax Rank (out of 50): 2
Average Local Sales Tax Rate: 0.00%
Max Local Sales Tax Rate: 0.00%
Average Combined Sales Tax Rate: 7.00%
Combined Sales Tax Rank (out of 50): 25
Minimum State Income Tax Rate If You’re Single: 4.00%
Minimum State Income Tax Rate If You’re Married: 4.00%
General Rhode Island Population Facts
In civilian labor force, total, percent of population age 16 years+: 64.50%
In civilian labor force, female, percent of population age 16 years+: 60.90%
Share of population which is foreign born: 14.40%
Mean travel time to work (minutes), workers age 16 years+: 25.3
Housing
Number of Housing Units: 487,132
Owner-occupied housing unit rate: 62.70%
Median value of owner-occupied housing units: $343,100
Median gross rent per month: $1,195
Households with a computer: 92.90%
Households with a broadband Internet subscription: 89.20%
Education
High school graduate or higher, percent of persons age 25 years+: 89.40%
Bachelor’s degree or higher, percent of persons age 25 years+: 36.30%
Also See
- Rhode Island Registered Agent Services
- Rhode Island Secretary of State Business Search
- How To Form an LLC In Rhode Island
- Rhode Island Bookkeepers & Bookkeeping Services
Sources
- https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
- https://en.wikipedia.org/wiki/Economy_of_Rhode_Island
- https://www.ibisworld.com/united-states/economic-profiles/rhode-island/
- https://taxfoundation.org/data/all/state/2024-sales-taxes/
- https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
- https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
- https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
- https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-RI.pdf
- https://www.bls.gov/eag/
- https://www.bls.gov/regions/northeast/rhode_island.htm#eag
- https://www.census.gov/quickfacts/fact/table/RI,US/PST045223
- https://www.50pros.com/fortune500
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