rhode island
Perhaps more than any other state, Rhode Island leaders have stepped forward with a clearly stated strategic plan for job growth. Rhode Island Economic Development Corporation (RIEDC) released the new cornerstone strategic plan in 2009 outlining a series of new initiatives to realign the economy. RIEDC realigned many of its core programs and increased its focus on partnerships after an outreach program to state businesses, and established a governor’s review panel comprised of business, labor, and legislative leaders to recommend ongoing changes to RIEDC programs and strategies. Entrepreneurship and Innovation State leaders brought together over 120 leaders in the green sector to establish a plan for the energy industry in the state. The process led to a new Rhode Island Green Economy Network and new public roadmap for the green industry. The state established a Renewable Energy Fund for grant and loan funds aimed at stimulating renewable energy products in the state. Seventeen grants totaling $680,000 were made in 2009. Officially nicknamed “The Ocean State,” Rhode Island is parlaying its aquatic resource into the energy industry as well by funding initial research and streamlining permitting for a new off shore wind energy development generating 1.32 million megawatts of energy annually. A power purchase agreement for the project was announced in late 2009 to line up a customer for the energy and the state enacted new legislation requiring the state’s largest electric utility to purchase power from energy producers within Rhode Island. Rhode Island’s Science and Technology Advisory Council (STAC) is a group of business, academic, and government leaders who advise policy makers on science and technology matters. STAC operates a searchable, accessible database of funding opportunities to assist researchers in tracking and applying for federal research funds. The Rhode Island Center for Innovation and Entrepreneurship (RICIE) opened its doors in 2009. Established as a partnership between Brown University, RIEDC, the state of Rhode Island, and the city and chamber of commerce in Providence, the Center serves as a tangible hub of entrepreneurial activity for the state. Rhode Island has one of the highest national rates of fouryear degrees conferred per its 18-24 year old population, and the new center for innovation is aimed at immersing 66
Every Company Counts Rhode Island has combined the efforts of more than 150 business assistance organizations under the common banner of “Every Company Counts.” By creating a common “brand” for small business assistance and coordinating the efforts of all of the state’s assistance agencies, the program focuses on simplifying the assistance process for the small companies that most often fall through the cracks or get lost shuffling information pamphlets. The program makes referrals to all other service providers and financing agencies, operates a robust website, and pledges to return all incoming phone calls within 24 hours.
students into entrepreneurship and helping university researchers evaluate new technologies and gauge their business viability. Infrastructure The redevelopment of the I-95/I-195 interchange in Providence will open up key waterfront land to new development and give previously cut-off neighborhoods the chance to reintegrate. State economic developers are taking a lead role to help repurpose some of the newly available land for economic development purposes.