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News - Rhode Island

• Mike Saul: Rhode Island Continues Foray Into Idea Making

  12/29/2008 - 10:12

  Over the last few decades Rhode Island’s economy has changed in fundamental ways. Like the rest of the nation, the state’s economy has shifted from a reliance on machinery and equipment to “knowledge workers” who generate ideas and information. The state must now compete in an economy where innovation and knowledge are the primary drivers of economic growth. 

• RI Hospitality Association Recognizes Katrina White as Tourism Employee of the Year

  12/22/2008 - 11:40

  The Rhode Island Hospitality Association has selected Katrina White as the recipient of the 2008 Tourism Employee of the Year award. White was presented the award recently as part of the 19th annual “Stars of the Industry” meeting at the Rhode Island Convention Center.

• Governor, RIEDC, SBA Launch $200M Small Business Stimulus Package

  12/11/2008 - 12:02

  Governor Donald L. Carcieri joined members of the local banking community, the Small Business Administration and the Rhode Island Economic Development Corporation at a press conference to unveil details of the Small Business Stimulus Package. The six point package included an infusion of capital into the State’s Small Business Loan Fund (SBLF), a state-backed loan guarantee program to encourage lending to small business, and a pledge from the local banking community to invest more than $165 million into small and mid-sized Rhode Island businesses over the next two years, and an additional pledge of $5 million in gap financing from the Business Development Company of Rhode Island.

• Rhode Island Dubbed Marine-Business Friendly by Trade Only Today

  12/04/2008 - 11:15

  Trade Only Today, a daily trade magazine for marine professionals, recently cited Rhode Island’s small geographic footprint, with more than 400 miles of coastline, as a major advantage to the marine industry by offering easy and efficient access to a vast network to many of the best ocean technology companies and customers in the world.

• Rhode Island Ranks Fifth in Technology in Annual State Competitiveness Report

  12/04/2008 - 10:52

  Rhode Island now ranks fifth overall in technology according to the Beacon Hill Institute (BHI) at Suffolk University's "State Competitiveness Report 2008." The technology sub index category measures a state's R&D capacity, inhabitants with science and engineering degrees, the number of patents per 100,000 residents and National Institutes of Health support to institutions per capita.

• Rhode Island Companies Attend World's Largest Medical Trade Fair

  12/03/2008 - 15:53

  Top Rhode Island medical companies attend the world’s largest medical trade fair in Germany with assistance from RIEDC

• Report Names Rhode Island Top Performer in the 2008 State New Economy Index

  11/18/2008 - 10:42

  Rhode Island was cited as a top performer in the 2008 State New Economy Index, a report published by the Ewing Marion Kauffman Foundation and the Information Technology and Innovation Foundation (ITIF). Released today, the 2008 Index ranked Rhode Island 11th in the nation in a state-by-state analysis of how state economies are transitioning to economic development strategies that focus on the creation and retention of high-wage jobs in growth industries. Rhode Island has moved up four places from its 2007 Index position, and has moved up from 29th when the Index was first issued in 1999.

• Mission Report: September Hong Kong Jewelry and Watch Fair

  10/27/2008 - 14:42

  The Rhode Island Economic Development Corporation partnered with the state of New York to recruit jewelry companies from both states to participate in the Hong Kong Jewelry and Watch Fair 2008. As a result of this successful collaboration, 14 jewelry manufacturers who are new to the Hong Kong market were able to participate in the September show.

• Rhode Island’s Greenest Commercial Building Opens for Business

  10/23/2008 - 13:09

   Revolutionary new office building in Providence’s Promenade District is Rhode Island’s first and only Net-Zero commercial environment, with all heating, cooling and electricity provided by the sun.

• Portsmouth Firm A2B Tracking Solutions Wins GSA Contract Award

  10/22/2008 - 12:44

  Portsmouth-based A2B Tracking Solutions Inc. has been awarded a U.S. General Services Administration (GSA) contract, in support of the U.S. Air Force, under the Department of Defense’s Unique Identification (UID) program.

• RIEDC Announces Results of Pilot Teacher Externship in Industry Program

  10/21/2008 - 10:25

  In an effort to encourage year-long teacher professional learning opportunities that connect student learning in STEM subjects to applications in Rhode Island’s innovation economy, the Rhode Island Economic Development Corporation  announced initial results of the Teacher Externship in Industry pilot program.

• Neurotech Announces the Opening of Its GMP Manufacturing Facility in Cumberland, Rhode Island

  10/21/2008 - 07:55

  Neurotech Pharmaceuticals, a privately-held biotechnology company focused on the development of sight-saving therapeutics for chronic retinal diseases, announced today the opening of its new 27,000-square-foot GMP manufacturing facility in Cumberland, Rhode Island.

• United Natural Foods, Inc. Announces Plans to Relocate Corporate Headquarters to Providence, R.I.

  10/16/2008 - 07:49

  United Natural Foods, Inc. (UNFI) today announced plans to relocate its corporate headquarters in May 2009 from Dayville, Connecticut to Providence, Rhode Island. UNFI will combine executive and administrative offices by relocating approximately 150 employees to the American Locomotive Works development on Valley Street.  UNFI will continue to maintain its presence in Dayville, where its distribution facility will remain its third largest facility on the East Coast and the sixth largest in the United States.

• Firm Selected to Conduct Assessment of I-195 Surplus Property

  09/30/2008 - 07:59

  A selection committee comprised of the Rhode Island Economic Development Corporation Executive Director Saul Kaplan, Rhode Island Department of Transportation Executive Director Michael Lewis, and Thomas Deller, Director of Planning for the city of Providence announced today that they have chosen Cambridge-based Chan Krieger Sieniewicz to perform a redevelopment and marketing analysis of the land that will become available for redevelopment as a result of the relocation of Interstate Route 195.

• URI, RIC awarded $12.5 million federal grant to boost science and math teaching, learning across state

  09/26/2008 - 10:01

  The University of Rhode Island, in partnership with Rhode Island College, has been awarded a five-year, $12.5 million National Science Foundation grant to transform the quality of science and mathematics teaching and learning at all Rhode Island middle and high schools, Governor Donald L. Carcieri announced.

• Director of Tourism for State of Rhode Island, David C. DePetrillo, Announces Retirement

  09/23/2008 - 10:02

  The Rhode Island Economic Development Corporation announced today that David C. DePetrillo, Director of Tourism for the State of Rhode Island, will retire from his position effective September 30, 2008. Concurrently, Mark Brodeur, Director of Tourism Operations, will be promoted to Director of Tourism for the State of Rhode Island.

• Location Inc.’s Neighborhood Search Engine Launches v2.0

  08/25/2008 - 09:38

  NeighborhoodScout, a nationwide neighborhood search engine for homebuyers, movers and real estate professionals, launched its version 2.0 on August 13.

• Rhode Island Receives Top Marks for Internet Speed

  08/25/2008 - 09:07

  In the recently published 2008, “A Report on Internet Speeds in All 50 States” by Speed Matters, Rhode Island ranked number one in the nation in download speed for the second year in a row.

• RIEDC Awarded Special Achievement in GIS Award from ESRI

  08/14/2008 - 13:18

  The Rhode Island Economic Development Corporation has received the Special Achievement in Geographic Information Systems (GIS) Award for Leadership with Geospatial Technology from the Environmental Systems Research Institute (ESRI) at the organization’s annual International User Conference in San Diego.

• RIEDC's Saul Kaplan Discusses R.I.'s Economy with WADK's Robert Bailey

  08/13/2008 - 10:14

  Rhode Island Economic Development Corporation Executive Director Saul Kaplan talks with WADK's Robert Bailey about Rhode Island's "secret sauce:" its size, on the station's Marketing and Money segment.

• RIEDC, Cox Communications, Raytheon, Rite-Solutions and Teknor Apex Launch Summer Teacher Training Initiative

  08/12/2008 - 09:57

  In an effort to encourage yearlong teacher professional learning opportunities in the areas of science, technology, engineering and math (STEM), the Rhode Island Economic Development Corporation (RIEDC) announced the creation of Leadership Initiatives for Teaching and Technology (LIFT2) - Rhode Island, a statewide pilot program that allows teachers to work for a summer at a company where they explore real world industry applications of STEM.

• Nine Firms to Compete for Opportunity to Conduct Assessment of I-195 Surplus Property

  08/07/2008 - 08:19

  In June 2008, the RIEDC issued a request for proposals seeking a vendor to perform a professional redevelopment and marketing analysis for the I-195 surplus property. The analysis will evaluate land use solutions that maximize the economic and tax values of the relocation parcels and enhance the public use and enjoyment of the surrounding areas.

• Time is Running Out to Apply for the 2008 Rhode Island Innovation Awards

  08/06/2008 - 12:48

  The Innovation Awards, presented by the Providence Business News in partnership with the Rhode Island Economic Development Corporation and Tech Collective, and sponsored by Cox Business, are designed to honor Rhode Island-based companies, organizations and individuals that constantly replace existing methods, models and products with better ones.
  A short application form is due by August 20. Apply Now!

• Rhode Island Receives Top Marks in Two Economic Development Studies

  08/01/2008 - 11:40

  Two reports, measuring business cost and economic development climate, gave Rhode Island and Providence high marks in categories such as research and development, education climate and environmental efforts.

• RIEDC Financing Program to Create 90 New Jobs in Rhode Island

  07/30/2008 - 07:48

  The Rhode Island Economic Development Corporation’s Small Business Loan Fund (SBLF) has provided expansion capital loans totaling $1.75 million, enabling four Rhode Island businesses to create more than 90 new jobs.

• InQuest Technologies Announces Corporate Relocation to Rhode Island

  07/28/2008 - 12:51

  InQuest Technologies, the developer of IQ9, the leading platform for delivering web-based enterprise business applications, today announced that the company will relocate its headquarters from Southborough, Massachusetts to Providence, Rhode Island in September 2008. InQuest will relocate approximately 20 employees when doors at the new office open this fall with plans to hire aggressively and grow this location to 50 employees.

• Aspen Aerogels Opens $30-million Facility in East Providence

  07/17/2008 - 13:39

  Aspen Aerogels, a manufacturer of energy-efficient, aerogel-based insulation solutions, opened a $30-million, 150,000-square-foot manufacturing facility in East Providence Monday. The company’s expansion brings dozens of jobs to Rhode Island, with plans to add 60 more over the next three years.

• CVS Caremark Announces Expansion of its Rhode Island Operations

  07/17/2008 - 13:16

  CVS Caremark Corporation, the largest provider of prescriptions in the United States, today announced expansion plans for its Rhode Island operations over the next two years.  The company plans to build two new 150,000-square-foot office facilities in the Highland Corporate Park in Cumberland, R.I. The new facilities are designed to support the company’s continuing growth and current hiring expectation of more than 200 new positions on its corporate campus. 

• Saul Kaplan: Budget Discipline is Good for R.I. Economy

  07/07/2008 - 12:34

  The budget passed by the Rhode Island General Assembly and signed into law by Governor Carcieri is good for the state’s economy. Our 2008 Economic Growth Plan made clear that the state has to get control over its spending without raising broad-based taxes. The fiscal 2009 budget does exactly that. Do not underestimate how important this is to improving our business climate and stimulating job creation.

• A note from RIEDC Executive Director Saul Kaplan

  06/27/2008 - 10:50

  Last week, the Milken Institute’s State Technology and Science Index confirmed that Rhode Island has made progress in its effort to become a regional and national hub for science, technology and innovation.  Milken’s Index uses a variety of indicators to measure how well each state is performing in today’s global knowledge-based economy.

• Strong Showing for Providence in 'Cybercities' Report

  06/25/2008 - 13:25

  The American Electronics Association's 2008 Cybercities report ranked the Providence-Fall River-New Bedford area as one of the nation's top cities in several areas measuring the technology industry.

• Rhode Island Breaks Into Top 10 of Science and Technology Report

  06/20/2008 - 09:10

  Rhode Island has moved up to 10th place in the 2008 State Science and Technology Index, released by California-based Milken Institute. The report uses a host of indicators to paint a comprehensive picture of how well states are performing in today’s highly competitive knowledge-based economy.

• STAC Launches New Website for R.I. Research Community

  06/02/2008 - 14:48

  The Rhode Island Science and Technology Council has debuted a new statewide collaborative research website that creates a one-stop-shop where researchers, entrepreneurs and community leaders can learn about research and development in R.I. register for events, apply for programs and access a searchable database of research equipment and shared facilities.

• Governor Carcieri to Convene Economic Policy Council

  05/20/2008 - 12:56

  Governor Donald L. Carcieri will host a meeting of the Economic Policy Council on May 21, 2008 and lead business and civic leaders in a discussion of the state’s economic development plan and priorities.  This is the first meeting of the EPC since the council was consolidated into the Rhode Island Economic Development Corporation (RIEDC).

• Legislation Seeks Growth Capital Program to Support Rhode Island Businesses

  05/15/2008 - 10:20

  Legislation to create a $20-million Growth Capital Guarantee Program has been introduced to the Senate and House of Representatives of the Rhode Island General Assembly. The legislation seeks to reposition existing guarantee authority currently in the Rhode Island Industrial-Recreational Building Authority (IRBA) program to help companies well positioned to create new high-wage jobs obtain growth capital from private sector lenders using assets other than real estate, machinery and equipment.

• RIEDC to Sponsor Supply Chain Management Summit

  05/13/2008 - 10:37

  The Rhode Island Economic Development Corporation (RIEDC), along with Bryant University, Banneker and the Rhode Island Manufacturing Extension Services (RIMES), is sponsoring the 2008 Rhode Island Supply Chain Management Summit.

• Governor Carcieri, APC and RIEDC to Host Dpt. of Commerce Officials Visit to R.I. as Part of “Invest in America” Week Activities

  05/08/2008 - 07:45

  U.S. Department of Commerce officials plan to visit Rhode Island today to highlight the benefits of foreign investments made in the U.S. as part of the agency’s Invest in America Week activities. Invest in America Week will be held May 5-9, 2008, featuring events spanning the United States. These events will highlight the importance of foreign direct investment (FDI) for jobs and economic growth through a series of site visits to foreign investor-owned facilities in states across the country. West Kingston, R.I.-based APC, a global leader in integrated critical power and cooling services, will serve as host site for Rhode Island’s Invest in America Week activities on May 8. APC is owned by France-based Schneider Electronic, a $25 billion global specialist in energy management.

• RIEDC, City of Providence and Rhode Island Department of Transportation Partner for Redevelopment of I-195 Surplus Land

  04/02/2008 - 08:54

  The new landscape created by the relocation of I-195, better known as the IWay, in Providence, which will make approximately 19.2 acres of land available for redevelopment, represents one of the most important economic development opportunities in Rhode Island’s recent history. The redevelopment has the potential to change the skyline of the capital city, add significant office and commercial space to the area and create a new hub of high-wage job growth.

• An Open Letter to the R.I. General Assembly from RIEDC Executive Director Saul Kaplan on Proposed Tax Legislation

  03/31/2008 - 15:12

  Business and tax climate have a powerful effect on our efforts to reposition Rhode Island’s economy and create more high-wage jobs for our state’s citizens. We must continue to improve Rhode Island’s tax competitiveness and hold the line on the progress we have made. Two bills recently introduced to the Rhode Island House of Representatives (H7950 and H7343) seek to increase personal and business income taxes and raise capital gains taxes. These changes to our tax structure will increase the tax burden faced by our state’s residents and businesses and jeopardize progress we have made in improving our regional and national competitiveness.

• Saul Kaplan in ProJo Editorial: Difficult Economic Times Call for Decisive Action

  03/10/2008 - 11:57

  Rhode Island is at a tipping point and we must work together to manage a difficult state budget, improve our tax competitiveness, and provide businesses with the tools they need to grow. We must become a knowledge economy that produces better jobs for all Rhode Islanders. Recent employment numbers only increase our resolve to accelerate the transition.

• R.I. Sees Improvement in State Competitiveness Rankings

  01/16/2008 - 13:47

  Moving up four places since 2006, Rhode Island was one of the fastest moving states in the Beacon Hill Institute at Suffolk University's "State Competitiveness Report 2007." This year Rhode Island ranked 21st overall, bolstered by strong showings in the technology, security and human resources categories.

• Jack Templin - R.I. Should Nurture Info-Tech Gem

  12/10/2007 - 13:51

  At a time in Rhode Island's history when it's easy to be cynical about the future of our economy, the state's info-tech and digital media sector is a hidden gem.

• Saul Kaplan: The promise of financial services

  11/05/2007 - 03:00

  Financial services companies in Rhode Island employ more than 26,000 people (an increase from 21,000 jobs in 1997) and bring in more than $1.5 billion in wages to the state each year. In 2006, the industry was one of the strongest contributors to the state economy. Despite these impressive statistics, Rhode Island can and should do more to cultivate this important business cluster. We have a lot to gain by doing so.

• Saul Kaplan: No Silver Bullets for R.I. Economy

  10/25/2007 - 02:00

  There is no silver bullet solution for creating a high-wage knowledge economy in Rhode Island, said EDC Executive Director Saul Kaplan in a Providence Journal Op-Ed published on October 25.

• R.I. Enjoys Eighth Consecutive Month of Job Growth

  10/19/2007 - 18:56

  Rhode Island's job trend remained positive during the month of September, with the total number of jobs in the state swelling to 499,800 - representing a gain of 300 jobs since August. This gain represents the eighth straight month of job growth in the state.

• Rhode Island Gets Notice at Council on Competitiveness Meetings

  09/28/2007 - 02:00

  On September 28, RIEDC executive director Saul Kaplan traveled to D.C. to participate in this year's Council on Competitiveness' Expert Committee meeting. The Council on Competitiveness' meeting highlights innovation leaders who have envisioned new strategies to guide the nation on how to be more competitive in both national and global markets.

• 12 Rhode Island Companies Dubbed "Fastest-Growing" By Inc. Magazine

  08/30/2007 - 11:07

  Inc. Magazine listed 12 R.I. firms in the Inc. 5,000, a list of the nation's fastest growing private companies. North Kingstown-based TCMPI, a wholesale direct link to jewelry manufacturers, name brand giftware and music instruments, made the Inc. 500 list at number 73.

• RIEDC Surpasses Governor Carcieri's Goal of 20,000 New Jobs

  07/31/2007 - 02:00

  With the June numbers in from the Rhode Island Department of Labor and Training, Governor Donald L. Carcieri has announced that the state has reached his goal of 20,000 new jobs by 2007. In fact, the state surpassed Carcieri's goal by 100 jobs, with 20,100 new jobs, thanks to a record-high job count in June of 499,100 non-farm jobs.

• Rhode Island Launches Tax Credit for Investment in Innovation-based Industries

  06/28/2007 - 02:00

  Rhode Island will now offer a new tax credit to encourage investment in high-growth, high-wage innovation industries and support the state's entrepreneurs. The Rhode Island Innovation Tax Credit, proposed by the Rhode Island Science and Technology Advisory Council (STAC), will offer investors up to a 50 percent credit on eligible investments, with a maximum tax credit of $100,000.

• Rhode Island Scholarship Alliance Creates Corporate Scholarship Tax Credit Program

  05/30/2007 - 02:00

  Thanks to the Rhode Island Scholarship Alliance, a new tax credit was created for corporations that donate to help lower-income families afford private school education for their children in exchange for a generous tax credit.

• Rhode Island Coalition Strong at BIO Convention, Governor Carcieri Leads New England Forum on Biotechnology

  05/07/2007 - 02:00

  Rhode Island was well represented at the 2007 BIO convention, held this week in Boston. For the first time in the convention's 14-year-history, Rhode Island participated in the event, hosting an exhibit with 23 of the state's leading health and life sciences companies, research organizations, academic institutions and government agencies.

• President of Washington, D.C.-based think tank outlines Rhode Island's standing in national ranking of economic transformation

  04/25/2007 - 02:00

  Information Technology and Innovation Foundation (ITIF) president Robert Atkinson presented results from the 2007 State New Economy Index, a report recently published by ITIF and the Ewing Marion Kauffman Foundation, at the April 25 meeting of the Rhode Island Science and Technology Advisory Council (STAC).

• R.I. Innovation Becoming Evident

  03/25/2007 - 13:22

  Over the years, Rhode Island has taken its share of hits in the numerous state-by-state surveys that rank various indicators of economic performance, like new investment, tax structure and educational achievement. Although many rankings are based on incomplete data and/or arbitrary measurements of how states stack up, the better of these reports remind us that Rhode Island isn't yet living up to its full potential. The good news is that we're finally starting to see the progress we're making reflected in these national rankings.

• Rhode Island to Participate in BIO International Convention for the First Time

  03/14/2007 - 02:00

  The state's biotech industry will get to strut its stuff at the 14th annual Biotechnology Industry Organization (BIO) International Convention, held this May in Boston. Thanks to the Rhode Island Economic Development Corporation and Tech Collective, which rented space at the event for many of the state's biotech industry leaders, more than 20 companies and institutions from across the state, including Amgen, Rhode Island Hospital, Concordia, EpiVax and the Science Technology and Advisory Council, will share a 20-by-30-foot pavilion at BIO 2007.

• Building R.I.'s Innovation Economy

  03/11/2007 - 16:24

  In a recent article in the Providence Journal, Rhode Island Science and Technology Advisory Council (STAC) co-chairs Jeff Seemann and Clyde Briant review the accomplishments of Rhode Island's leadership in 2006, including the creation of the Rhode Island Research Alliance, a new awards program to stimulate collaborative research, and in collaboration with the Business Innovation Factory, a statewide program to enable all of Rhode Island's public high schools to participate in Dean Kamen's FIRST Vex Challenge.

• State Gains 5,700 Jobs in 2006, Unemployment Rate Falls

  03/07/2007 - 03:00

  Rhode Island's economy showed stronger than anticipated gains in 2006, according to two reports released recently by the Rhode Island Department of Labor and Training. The reports show that the state's unemployment rate dipped from December's 5.1 percent to 4.7 percent in January and that Rhode Island saw a gain of 5,700 private sector jobs.

• Kauffman Foundation and Information Technology and Innovation Foundation Cites RI as Top Five Movers in Economic Transformation

  03/07/2007 - 03:00

  Rhode Island was recently cited as one of the "Top Five Movers" in economic transformation in the 2007 State New Economy Index, a report published by the Ewing Marion Kauffman Foundation and the Information Technology and Innovation Foundation (ITIF). In the 2002 Index, Rhode Island was ranked 23rd overall nationally. In the 2007 Index, the Ocean State's national ranking moved up to 15th in the nation.

• Projo Business Editor Reflects on State's Past and Present, Affirms Rhode Island's Potential as Innovation Hub

  01/07/2007 - 17:27

  In his article, "A walk through state's past and future," Providence Journal Business Editor John Kostrzewa says that by embracing the state's size as a manageable, realistic test-bed for innovation, Rhode Island will prosper in the global economy.

• Can't just keep hiking taxes -- A Rhode Island that citizens can afford

  06/08/2006 - 16:41

  Earlier this year, I proposed to the Rhode Island General Assembly a state budget designed to control state spending and hold the line on taxes, while making strategic investments in Rhode Island's future prosperity. By limiting the growth in state spending to 3.3 percent and by laying the foundation for tax cuts, my budget plan is focused on making the state affordable for the average Rhode Islander.

• Michael McMahon: R.I. seeks level playing field -- End all states' tax deals for businesses

  10/06/2005 - 16:08

  To grant tax incentives or not to grant tax incentives? It is not exactly William Shakespeare's question, but a case before the U.S. Supreme Court is, for state governments, almost as significant as the playwright's ageless existential dilemma.

• Supporting Alternative Safe Alternative Forms of Energy Needs to Begin at Home

  01/31/2005 - 17:45

  Right around the corner from Rhode Island, in Nantucket Sound, a drama is playing out that could have a profound economic impact on our state, and even on national policy.

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