diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index f5cdbdfcfa0..3c640c431bb 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 1.1.0b1
+current_version = 1.1.0rc1
 parse = (?P<major>\d+)
 	\.(?P<minor>\d+)
 	\.(?P<patch>\d+)
diff --git a/.changes/1.1.0-rc1.md b/.changes/1.1.0-rc1.md
new file mode 100644
index 00000000000..118593e0885
--- /dev/null
+++ b/.changes/1.1.0-rc1.md
@@ -0,0 +1,48 @@
+## dbt-core 1.1.0-rc1 - April 12, 2022
+### Breaking Changes
+- For adapter plugin maintainers only: Internal adapter methods `set_relations_cache` + `_relations_cache_for_schemas` each take an additional argument, for use with experimental `CACHE_SELECTED_ONLY` config ([#4688](https://github.com/dbt-labs/dbt-core/issues/4688), [#4860](https://github.com/dbt-labs/dbt-core/pull/4860))
+### Features
+- Add `--cache_selected_only` flag to cache schema object of selected models only. ([#4688](https://github.com/dbt-labs/dbt-core/issues/4688), [#4860](https://github.com/dbt-labs/dbt-core/pull/4860))
+- Support custom names for generic tests ([#3348](https://github.com/dbt-labs/dbt-core/issues/3348), [#4898](https://github.com/dbt-labs/dbt-core/pull/4898))
+- Enable dbt jobs to run downstream models based on fresher sources. Compare the source freshness results between previous and current state. If any source is fresher and/or new in current vs. previous state, dbt will run and test the downstream models in scope. Example command: `dbt build --select source_status:fresher+`  ([#4050](https://github.com/dbt-labs/dbt-core/issues/4050), [#4256](https://github.com/dbt-labs/dbt-core/pull/4256))
+- converting unique key as list tests to new pytest format ([#4882](https://github.com/dbt-labs/dbt-core/issues/4882), [#4958](https://github.com/dbt-labs/dbt-core/pull/4958))
+- Add a variable called selected_resources in the Jinja context containing a list of all the resources matching the nodes for  the --select, --exclude and/or --selector parameters. ([#3471](https://github.com/dbt-labs/dbt-core/issues/3471), [#5001](https://github.com/dbt-labs/dbt-core/pull/5001))
+- Support the DO_NOT_TRACK environment variable from the consoledonottrack.com initiative ([#3540](https://github.com/dbt-labs/dbt-core/issues/3540), [#5000](https://github.com/dbt-labs/dbt-core/pull/5000))
+- Add `--no-print` global flag ([#4710](https://github.com/dbt-labs/dbt-core/issues/4710), [#4854](https://github.com/dbt-labs/dbt-core/pull/4854))
+- add enabled as a source config ([#3662](https://github.com/dbt-labs/dbt-core/issues/3662), [#5008](https://github.com/dbt-labs/dbt-core/pull/5008))
+### Fixes
+- Inconsistent timestamps between inserted/updated and deleted rows in snapshots ([#4347](https://github.com/dbt-labs/dbt-core/issues/4347), [#4513](https://github.com/dbt-labs/dbt-core/pull/4513))
+- Catch more cases to retry package retrieval for deps pointing to the hub.  Also start to cache the package requests. ([#4849](https://github.com/dbt-labs/dbt-core/issues/4849), [#4982](https://github.com/dbt-labs/dbt-core/pull/4982))
+- Make the warning message for a full event deque more descriptive ([#4962](https://github.com/dbt-labs/dbt-core/issues/4962), [#5011](https://github.com/dbt-labs/dbt-core/pull/5011))
+- Fix hard delete snapshot test ([#4916](https://github.com/dbt-labs/dbt-core/issues/4916), [#5020](https://github.com/dbt-labs/dbt-core/pull/5020))
+### Docs
+- Fixed capitalization in UI for exposures of `type: ml` ([#4984](https://github.com/dbt-labs/dbt-core/issues/4984), [#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- List packages and tags in alphabetical order ([#4984](https://github.com/dbt-labs/dbt-core/issues/4984), [#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- Bump jekyll from 3.8.7 to 3.9.0 ([#4984](https://github.com/dbt-labs/dbt-core/issues/4984), [#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- Updated docker README to reflect necessity of using BuildKit ([#4990](https://github.com/dbt-labs/dbt-core/issues/4990), [#5018](https://github.com/dbt-labs/dbt-core/pull/5018))
+### Under the Hood
+- add performance regression testing runner without orchestration ([#4021](https://github.com/dbt-labs/dbt-core/issues/4021), [#4602](https://github.com/dbt-labs/dbt-core/pull/4602))
+- Add Graph Compilation and Adapter Cache tracking ([#4625](https://github.com/dbt-labs/dbt-core/issues/4625), [#4912](https://github.com/dbt-labs/dbt-core/pull/4912))
+- Create a dbt.tests.adapter release when releasing dbt and postgres ([#4812](https://github.com/dbt-labs/dbt-core/issues/4812), [#4948](https://github.com/dbt-labs/dbt-core/pull/4948))
+- update docker image to use python 3.10.3 ([#4904](https://github.com/dbt-labs/dbt-core/issues/4904), [#4963](https://github.com/dbt-labs/dbt-core/pull/4963))
+- updates black to 22.3.0 which fixes dependency incompatibility when running with precommit. ([#4904](https://github.com/dbt-labs/dbt-core/issues/4904), [#4972](https://github.com/dbt-labs/dbt-core/pull/4972))
+- Adds config util for ad-hoc creation of project objs or dicts ([#4808](https://github.com/dbt-labs/dbt-core/issues/4808), [#4981](https://github.com/dbt-labs/dbt-core/pull/4981))
+- Remove TableComparison and convert existing calls to use dbt.tests.util ([#4778](https://github.com/dbt-labs/dbt-core/issues/4778), [#4986](https://github.com/dbt-labs/dbt-core/pull/4986))
+- Remove unneeded create_schema in snapshot materialization ([#4742](https://github.com/dbt-labs/dbt-core/issues/4742), [#4993](https://github.com/dbt-labs/dbt-core/pull/4993))
+- Added .git-blame-ignore-revs file to mask re-formmating commits from git blame ([#5004](https://github.com/dbt-labs/dbt-core/issues/5004), [#5019](https://github.com/dbt-labs/dbt-core/pull/5019))
+- Convert version tests to pytest ([#5024](https://github.com/dbt-labs/dbt-core/issues/5024), [#5026](https://github.com/dbt-labs/dbt-core/pull/5026))
+- Updating tests and docs to show that we now support Python 3.10 ([#4974](https://github.com/dbt-labs/dbt-core/issues/4974), [#5025](https://github.com/dbt-labs/dbt-core/pull/5025))
+- Update --version output and logic ([#4724](https://github.com/dbt-labs/dbt-core/issues/4724), [#5029](https://github.com/dbt-labs/dbt-core/pull/5029))
+-  ([#5033](https://github.com/dbt-labs/dbt-core/issues/5033), [#5032](https://github.com/dbt-labs/dbt-core/pull/5032))
+
+### Contributors
+- [@agoblet](https://github.com/agoblet) ([#5000](https://github.com/dbt-labs/dbt-core/pull/5000))
+- [@anaisvaillant](https://github.com/anaisvaillant) ([#4256](https://github.com/dbt-labs/dbt-core/pull/4256))
+- [@b-per](https://github.com/b-per) ([#5001](https://github.com/dbt-labs/dbt-core/pull/5001))
+- [@jonstacks](https://github.com/jonstacks) ([#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- [@kadero](https://github.com/kadero) ([#4513](https://github.com/dbt-labs/dbt-core/pull/4513))
+- [@karunpoudel](https://github.com/karunpoudel) ([#4860](https://github.com/dbt-labs/dbt-core/pull/4860), [#4860](https://github.com/dbt-labs/dbt-core/pull/4860))
+- [@matt-winkler,](https://github.com/matt-winkler,) ([#4256](https://github.com/dbt-labs/dbt-core/pull/4256))
+- [@pgoslatara](https://github.com/pgoslatara) ([#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- [@poloaraujo](https://github.com/poloaraujo) ([#4854](https://github.com/dbt-labs/dbt-core/pull/4854))
+- [@sungchun12,](https://github.com/sungchun12,) ([#4256](https://github.com/dbt-labs/dbt-core/pull/4256))
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diff --git a/CHANGELOG.md b/CHANGELOG.md
index be3ef9f0684..14348684d1f 100755
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,56 @@
 - Do not edit this file directly. This file is auto-generated using [changie](https://github.com/miniscruff/changie). For details on how to document a change, see [the contributing guide](https://github.com/dbt-labs/dbt-core/blob/main/CONTRIBUTING.md#adding-changelog-entry)
 
 
+## dbt-core 1.1.0-rc1 - April 12, 2022
+### Breaking Changes
+- For adapter plugin maintainers only: Internal adapter methods `set_relations_cache` + `_relations_cache_for_schemas` each take an additional argument, for use with experimental `CACHE_SELECTED_ONLY` config ([#4688](https://github.com/dbt-labs/dbt-core/issues/4688), [#4860](https://github.com/dbt-labs/dbt-core/pull/4860))
+### Features
+- Add `--cache_selected_only` flag to cache schema object of selected models only. ([#4688](https://github.com/dbt-labs/dbt-core/issues/4688), [#4860](https://github.com/dbt-labs/dbt-core/pull/4860))
+- Support custom names for generic tests ([#3348](https://github.com/dbt-labs/dbt-core/issues/3348), [#4898](https://github.com/dbt-labs/dbt-core/pull/4898))
+- Enable dbt jobs to run downstream models based on fresher sources. Compare the source freshness results between previous and current state. If any source is fresher and/or new in current vs. previous state, dbt will run and test the downstream models in scope. Example command: `dbt build --select source_status:fresher+`  ([#4050](https://github.com/dbt-labs/dbt-core/issues/4050), [#4256](https://github.com/dbt-labs/dbt-core/pull/4256))
+- converting unique key as list tests to new pytest format ([#4882](https://github.com/dbt-labs/dbt-core/issues/4882), [#4958](https://github.com/dbt-labs/dbt-core/pull/4958))
+- Add a variable called selected_resources in the Jinja context containing a list of all the resources matching the nodes for  the --select, --exclude and/or --selector parameters. ([#3471](https://github.com/dbt-labs/dbt-core/issues/3471), [#5001](https://github.com/dbt-labs/dbt-core/pull/5001))
+- Support the DO_NOT_TRACK environment variable from the consoledonottrack.com initiative ([#3540](https://github.com/dbt-labs/dbt-core/issues/3540), [#5000](https://github.com/dbt-labs/dbt-core/pull/5000))
+- Add `--no-print` global flag ([#4710](https://github.com/dbt-labs/dbt-core/issues/4710), [#4854](https://github.com/dbt-labs/dbt-core/pull/4854))
+- add enabled as a source config ([#3662](https://github.com/dbt-labs/dbt-core/issues/3662), [#5008](https://github.com/dbt-labs/dbt-core/pull/5008))
+### Fixes
+- Inconsistent timestamps between inserted/updated and deleted rows in snapshots ([#4347](https://github.com/dbt-labs/dbt-core/issues/4347), [#4513](https://github.com/dbt-labs/dbt-core/pull/4513))
+- Catch more cases to retry package retrieval for deps pointing to the hub.  Also start to cache the package requests. ([#4849](https://github.com/dbt-labs/dbt-core/issues/4849), [#4982](https://github.com/dbt-labs/dbt-core/pull/4982))
+- Make the warning message for a full event deque more descriptive ([#4962](https://github.com/dbt-labs/dbt-core/issues/4962), [#5011](https://github.com/dbt-labs/dbt-core/pull/5011))
+- Fix hard delete snapshot test ([#4916](https://github.com/dbt-labs/dbt-core/issues/4916), [#5020](https://github.com/dbt-labs/dbt-core/pull/5020))
+### Docs
+- Fixed capitalization in UI for exposures of `type: ml` ([#4984](https://github.com/dbt-labs/dbt-core/issues/4984), [#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- List packages and tags in alphabetical order ([#4984](https://github.com/dbt-labs/dbt-core/issues/4984), [#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- Bump jekyll from 3.8.7 to 3.9.0 ([#4984](https://github.com/dbt-labs/dbt-core/issues/4984), [#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- Updated docker README to reflect necessity of using BuildKit ([#4990](https://github.com/dbt-labs/dbt-core/issues/4990), [#5018](https://github.com/dbt-labs/dbt-core/pull/5018))
+### Under the Hood
+- add performance regression testing runner without orchestration ([#4021](https://github.com/dbt-labs/dbt-core/issues/4021), [#4602](https://github.com/dbt-labs/dbt-core/pull/4602))
+- Add Graph Compilation and Adapter Cache tracking ([#4625](https://github.com/dbt-labs/dbt-core/issues/4625), [#4912](https://github.com/dbt-labs/dbt-core/pull/4912))
+- Create a dbt.tests.adapter release when releasing dbt and postgres ([#4812](https://github.com/dbt-labs/dbt-core/issues/4812), [#4948](https://github.com/dbt-labs/dbt-core/pull/4948))
+- update docker image to use python 3.10.3 ([#4904](https://github.com/dbt-labs/dbt-core/issues/4904), [#4963](https://github.com/dbt-labs/dbt-core/pull/4963))
+- updates black to 22.3.0 which fixes dependency incompatibility when running with precommit. ([#4904](https://github.com/dbt-labs/dbt-core/issues/4904), [#4972](https://github.com/dbt-labs/dbt-core/pull/4972))
+- Adds config util for ad-hoc creation of project objs or dicts ([#4808](https://github.com/dbt-labs/dbt-core/issues/4808), [#4981](https://github.com/dbt-labs/dbt-core/pull/4981))
+- Remove TableComparison and convert existing calls to use dbt.tests.util ([#4778](https://github.com/dbt-labs/dbt-core/issues/4778), [#4986](https://github.com/dbt-labs/dbt-core/pull/4986))
+- Remove unneeded create_schema in snapshot materialization ([#4742](https://github.com/dbt-labs/dbt-core/issues/4742), [#4993](https://github.com/dbt-labs/dbt-core/pull/4993))
+- Added .git-blame-ignore-revs file to mask re-formmating commits from git blame ([#5004](https://github.com/dbt-labs/dbt-core/issues/5004), [#5019](https://github.com/dbt-labs/dbt-core/pull/5019))
+- Convert version tests to pytest ([#5024](https://github.com/dbt-labs/dbt-core/issues/5024), [#5026](https://github.com/dbt-labs/dbt-core/pull/5026))
+- Updating tests and docs to show that we now support Python 3.10 ([#4974](https://github.com/dbt-labs/dbt-core/issues/4974), [#5025](https://github.com/dbt-labs/dbt-core/pull/5025))
+- Update --version output and logic ([#4724](https://github.com/dbt-labs/dbt-core/issues/4724), [#5029](https://github.com/dbt-labs/dbt-core/pull/5029))
+-  ([#5033](https://github.com/dbt-labs/dbt-core/issues/5033), [#5032](https://github.com/dbt-labs/dbt-core/pull/5032))
+
+### Contributors
+- [@agoblet](https://github.com/agoblet) ([#5000](https://github.com/dbt-labs/dbt-core/pull/5000))
+- [@anaisvaillant](https://github.com/anaisvaillant) ([#4256](https://github.com/dbt-labs/dbt-core/pull/4256))
+- [@b-per](https://github.com/b-per) ([#5001](https://github.com/dbt-labs/dbt-core/pull/5001))
+- [@jonstacks](https://github.com/jonstacks) ([#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- [@kadero](https://github.com/kadero) ([#4513](https://github.com/dbt-labs/dbt-core/pull/4513))
+- [@karunpoudel](https://github.com/karunpoudel) ([#4860](https://github.com/dbt-labs/dbt-core/pull/4860), [#4860](https://github.com/dbt-labs/dbt-core/pull/4860))
+- [@matt-winkler,](https://github.com/matt-winkler,) ([#4256](https://github.com/dbt-labs/dbt-core/pull/4256))
+- [@pgoslatara](https://github.com/pgoslatara) ([#4995](https://github.com/dbt-labs/dbt-core/pull/4995))
+- [@poloaraujo](https://github.com/poloaraujo) ([#4854](https://github.com/dbt-labs/dbt-core/pull/4854))
+- [@sungchun12,](https://github.com/sungchun12,) ([#4256](https://github.com/dbt-labs/dbt-core/pull/4256))
+
+
 ## dbt-core 1.1.0-b1 - March 22, 2022
 ### Breaking Changes
 - **Relevant to maintainers of adapter plugins _only_:** The abstractmethods `get_response` and `execute` now only return a `connection.AdapterReponse` in type hints. (Previously, they could return a string.) We encourage you to update your methods to return an object of class `AdapterResponse`, or implement a subclass specific to your adapter ([#4499](https://github.com/dbt-labs/dbt-core/issues/4499), [#4869](https://github.com/dbt-labs/dbt-core/pull/4869))
diff --git a/core/dbt/version.py b/core/dbt/version.py
index 4baaaa0aa66..4a78610b051 100644
--- a/core/dbt/version.py
+++ b/core/dbt/version.py
@@ -234,5 +234,5 @@ def _get_adapter_plugin_names() -> Iterator[str]:
             yield plugin_name
 
 
-__version__ = "1.1.0b1"
+__version__ = "1.1.0rc1"
 installed = get_installed_version()
diff --git a/core/scripts/create_adapter_plugins.py b/core/scripts/create_adapter_plugins.py
index c49f2812f39..24eabfa36c1 100644
--- a/core/scripts/create_adapter_plugins.py
+++ b/core/scripts/create_adapter_plugins.py
@@ -273,12 +273,12 @@ def parse_args(argv=None):
     parser.add_argument("adapter")
     parser.add_argument("--title-case", "-t", default=None)
     parser.add_argument("--dependency", action="append")
-    parser.add_argument("--dbt-core-version", default="1.1.0b1")
+    parser.add_argument("--dbt-core-version", default="1.1.0rc1")
     parser.add_argument("--email")
     parser.add_argument("--author")
     parser.add_argument("--url")
     parser.add_argument("--sql", action="store_true")
-    parser.add_argument("--package-version", default="1.1.0b1")
+    parser.add_argument("--package-version", default="1.1.0rc1")
     parser.add_argument("--project-version", default="1.0")
     parser.add_argument("--no-dependency", action="store_false", dest="set_dependency")
     parsed = parser.parse_args()
diff --git a/core/setup.py b/core/setup.py
index 68cc6165c81..5981d0cd8a9 100644
--- a/core/setup.py
+++ b/core/setup.py
@@ -25,7 +25,7 @@
 
 
 package_name = "dbt-core"
-package_version = "1.1.0b1"
+package_version = "1.1.0rc1"
 description = """With dbt, data analysts and engineers can build analytics \
 the way engineers build applications."""
 
diff --git a/docker/Dockerfile b/docker/Dockerfile
index c102c7601b4..3cccfed3f6c 100644
--- a/docker/Dockerfile
+++ b/docker/Dockerfile
@@ -14,12 +14,12 @@ FROM --platform=$build_for python:3.10.3-slim-bullseye as base
 # N.B. The refs updated automagically every release via bumpversion
 # N.B. dbt-postgres is currently found in the core codebase so a value of dbt-core@<some_version> is correct
 
-ARG dbt_core_ref=dbt-core@v1.1.0b1
-ARG dbt_postgres_ref=dbt-core@v1.1.0b1
-ARG dbt_redshift_ref=dbt-redshift@v1.0.0
-ARG dbt_bigquery_ref=dbt-bigquery@v1.0.0
-ARG dbt_snowflake_ref=dbt-snowflake@v1.0.0
-ARG dbt_spark_ref=dbt-spark@v1.0.0
+ARG dbt_core_ref=dbt-core@v1.1.0rc1
+ARG dbt_postgres_ref=dbt-core@v1.1.0rc1
+ARG dbt_redshift_ref=dbt-redshift@v1.1.0rc1
+ARG dbt_bigquery_ref=dbt-bigquery@v1.1.0rc1
+ARG dbt_snowflake_ref=dbt-snowflake@v1.1.0rc1
+ARG dbt_spark_ref=dbt-spark@v1.1.0rc1
 # special case args
 ARG dbt_spark_version=all
 ARG dbt_third_party
diff --git a/plugins/postgres/dbt/adapters/postgres/__version__.py b/plugins/postgres/dbt/adapters/postgres/__version__.py
index 56ec17a89f3..d37cdcc766f 100644
--- a/plugins/postgres/dbt/adapters/postgres/__version__.py
+++ b/plugins/postgres/dbt/adapters/postgres/__version__.py
@@ -1 +1 @@
-version = "1.1.0b1"
+version = "1.1.0rc1"
diff --git a/plugins/postgres/setup.py b/plugins/postgres/setup.py
index f849feb00ad..173684ac747 100644
--- a/plugins/postgres/setup.py
+++ b/plugins/postgres/setup.py
@@ -41,7 +41,7 @@ def _dbt_psycopg2_name():
 
 
 package_name = "dbt-postgres"
-package_version = "1.1.0b1"
+package_version = "1.1.0rc1"
 description = """The postgres adpter plugin for dbt (data build tool)"""
 
 this_directory = os.path.abspath(os.path.dirname(__file__))
diff --git a/tests/adapter/dbt/tests/adapter/__version__.py b/tests/adapter/dbt/tests/adapter/__version__.py
index 56ec17a89f3..d37cdcc766f 100644
--- a/tests/adapter/dbt/tests/adapter/__version__.py
+++ b/tests/adapter/dbt/tests/adapter/__version__.py
@@ -1 +1 @@
-version = "1.1.0b1"
+version = "1.1.0rc1"
diff --git a/tests/adapter/setup.py b/tests/adapter/setup.py
index a70edb3b91b..e529c78b9f1 100644
--- a/tests/adapter/setup.py
+++ b/tests/adapter/setup.py
@@ -20,7 +20,7 @@
 
 
 package_name = "dbt-tests-adapter"
-package_version = "1.1.0b1"
+package_version = "1.1.0rc1"
 description = """The dbt adapter tests for adapter plugins"""
 
 this_directory = os.path.abspath(os.path.dirname(__file__))