Rhode Island Economy

Tabulating Rhode Island’s FY2011 Federal Earmarks

By Marc Comtois | December 16, 2010 |

For those interested, HERE is a working list of all of the earmarks contained in the lame duck FY2011 budget. I assume it will be continually updated as required (hence, the “working”). I’ve also broken out the RI earmarks from messr’s Reed, Whitehouse, Langevin and Kennedy and you can download it HERE. All told, according…

Whose Taxes Will Change How

By Justin Katz | December 14, 2010 |

This Neil Downing article points to an egregious error in the waning year of Governor Carcieri’s time in office (emphasis added): … the amount of Rhode Island income tax withheld from your pay will change because of massive changes to the state income tax law enacted in June. Employers will have to withhold more in…

“Body of Proof” Flips Paiva-Weed on tax credits

By Marc Comtois | December 3, 2010 |

The upcoming, filmed in Rhode Island, ABC show Body of Proof (starring Dana Delaney and Jeri Ryan) was feted at the State House today. Both Delaney and Ryan extolled the virtues of the Ocean State while executive producer Matt Gross explained that it was the tax credits that brought the production to Rhode Island: “Having…

Questions about the EDC’s Loan to Trainor

By Marc Comtois | December 3, 2010 |

I note a couple things from the ProJo story about Chafee spokesman Michael Trainor’s defaulted loan from the RI EDC. 1) Trainor and his partners approached the RHODE ISLAND EDC for a loan for a business based in CONNECTICUT. 2) The business plan centered on the purchase of three companies in the south that would…

When Marketing Isn’t a High Priority

By Justin Katz | December 3, 2010 |

A familiar theme pops up all over the place, if you’re looking for it. Consider the advice of consultants that the tourism division of the Economic Development Corporation (EDC) hired to help Rhode Island with its efforts in that area: The consultants learned that 70 percent of the state’s visitors come from just five states…

Golden Geese, Living and Dead

By Justin Katz | November 24, 2010 |

A quick Google search of his name suggests that he might, but I wonder how many people who agree with Shane Gaudet’s view on taxing nonprofits would apply that argument to such things as corporate and income taxes for high-income Rhode Islanders: The nine nonprofits listed in the story employ more than 20,000 people. Jobs…

Another Phrase for “Taxpayer Subsidized”

By Justin Katz | November 19, 2010 |

This group of industries seems a bit too narrow to count as a “knowledge economy” or to stand as comprehensive representatives of the value of intellectual capital. Indeed, another quality that they share would be a much better descriptor: The knowledge economy refers to the health-care, life-sciences, research and green-technology sectors and to the idea…

What Chafee Means by “Harmful”

By Justin Katz | November 17, 2010 |

I’ve received reader email expressing cynicism at the Providence Journal PolitiFact’s release, post-election, of its finding that Governor-elect Lincoln Chafee’s statement was “barely true” that “experts say the property tax ‘is the most harmful to economic growth and … the sales tax is least harmful.” Indeed, Eugene Emery’s article notes: [Tax Foundation economist Kail] Padgitt…

Balance Is Unexpected for a Reason

By Justin Katz | November 16, 2010 |

Much is being made of Rhode Island’s unexpected budget balancing. Here’s Kathryn Gregg in the Providence Journal: After meeting on and off over several days, the top financial advisors to the House, the Senate and the governor, determined that revenues are running about $16.7 million ahead of expectations when the General Assembly signed off on…

A Sign of Things to Come

By Justin Katz | November 15, 2010 |

Rhode Islanders should expect more of this: It may be a sign of a bad economy, but some businesses are balking at a plan to charge fees for placing business logos on the blue highway signs at exits for food, gas and lodging. … The $1,200 per-sign fee, which went into effect on Nov.4, applies…