Rhode Island Economy
There are basically two general theories about what is going on in Rhode Island. Tom Sgouros enunciates the leftward (vested interest) explanation more succinctly than most of his compatriots (paragraphs reprinted out of order): So this is the situation: The Assembly and Governor have together created a tremendous budget crisis. The crisis was caused by…
I have to admit to being a bit confused by David’s comments to my post about Rhode Island’s lost jobs. I pointed out that Rhode Island hadn’t gained jobs, as expected, over the last year, but lost them, including in the construction industry. With a slate of laws in mind that would attract low-end and…
See now, even if one agrees with the dubious proposition that the film industry is particularly worth attracting to Rhode Island, this method of creating incentive is simply wrong: To qualify for the tax credits, a company has to spend a minimum of $300,000 on production costs that were “directly attributable to activity within the…
It would be a shame if this leap-day story were to be washed away in the wave of cycling news: Rhode Island employers last month shed an estimated 1,700 jobs and the state unemployment rate in January climbed to 5.7 percent, the highest since 1995, according to a government jobs report to be released today.…
Layer upon layer, that is. Wouldn’t it be refreshing if Rhode Island’s elected officers would seek to solve our problems by relinquishing control rather than expanding their influence? Consider legislation that Representative Gregory Schadone (D, North Providence) proposed this week: The “Small Business Revolving Loan and Credit Enhancement Fund Act” would offer partial, low-cost loans…
A sharp-eyed reader points out the following mention of yet another comparative list for which Rhode Island is to the extreme on the wrong end, asking “Why does everything cost more in Rhode Island?” (emphasis added): In 2007, according to the National Association of State Budgeting Officers, states spent $44 billion in tax dollars on…
Based on various trends, including taxpayer migration to and from Rhode Island, I’ve suggested a theory that working and middle class families have been selling their homes and leaving the state. While I wouldn’t claim the following real estate data as absolute proof, it certainly does fit the scenario: Across the board, homebuyers in Rhode…
As the budget clock ticks, the General Assembly has been taking its precious time figuring out how to resolve the mess. One imagines the legislators hiding in dark corners awaiting a miracle. What they need to be doing, at the very least, is making the sorts of noises that would show their comprehension of the…
Honestly, I’m not always looking to accentuate the negative, when it comes to Rhode Island. It’s just important for us to have a clear picture of what’s going on (going wrong) with our state. Consider Lynn Arditi’s coverage of the decreasing demand for building permits: Rhode Island’s new home construction slowed last year, with the…
Rhode Island can’t be doing so badly if it’s only one of at least 25 states facing budget shortfalls, can it? Well, considering the sour mood about the economy across the nation, it’s perhaps surprising that 25 states don’t have shortfalls. In judging between those that do, though, one would want more information than a…