RIEDC 2009 Economic Growth Plan: Rhode Island, Working Again
Rhode Island has been hit hard by the sub-prime mortgage crisis, the credit crunch
triggered by the collapse of major financial institutions, and the resulting national
recession. The economic crisis presents enormous challenges to our state and to the
work of the Rhode Island Economic Development Corporation, but it is also presents
a rare opportunity to identify what works and what doesn’t and to take effective actions to rebuild and reinvigorate our economy.
RIEDC has already realigned its core job retention, creation and attraction programs in response to changing conditions. It has adopted a client-facing approach, reaching out to companies to discover what they need to create good jobs. It has streamlined its operations to focus on providing financing tools and workforce development, and expanded its role as a connector between businesses and the resources available to them.
RIEDC’s 2009 Economic Growth plan builds upon this realignment, proposing 10 concrete action items to accelerate the pace of job growth in our state:
Help Small Business Gain Access to Capital
Equip Workers with Skills for High-Wage, Innovation Jobs
Foster New Company Creation and Entrepreneurship
Create a Public-Private Business Attraction Center
Develop Robust Regional and Local Partnerships
Establish Expedited Permitting Procedures
Accelerate Science and Technology Research
Expand Renewable Energy Capabilities
Maximize Economic Impact of Federal Stimulus Dollars
Reinvigorate RIEDC’s Programs and Initiatives
Our immediate focus is to preserve and retain jobs in an economic climate of high unemployment and unprecedented uncertainty. Our strategy for Rhode Island’s long-term economic vitality is to enrich Rhode Island’s economy with knowledge-based and innovation industries that will provide more high-wage job opportunities, and be competitive in the global economy.
RIEDC is on the ground, offering immediate help to Rhode Island’s employers, within a clear long-term strategy to build for a prosperous future.
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