Economic Activity
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Rhode Island’s defense industry contributed $3.75 billion to the state’s economy in 2013 and supported as many as 33,806 jobs statewide, according to a report released Tuesday by the R.I. Defense Economy Planning Commission. The defense economy generated $1.93 billion in income for Rhode Island households last year as well as $106 million in tax revenue for the state. more
Edesia Inc., a nonprofit that produces ready-to-use therapeutic foods and supplemental foods for malnourished children, has signed a 25-year lease at Quonset Business Park, where it plans to build a new facility and relocate from its current Providence location. more
Second-quarter sales of single-family homes in Rhode Island fell 4.4 percent compared with the same period in 2013, the Rhode Island Association of Realtors said Wednesday. more
One week after announcing an agreement to sell the Providence Journal to New Media Investment Group Inc., A.H. Belo Corp. reported second-quarter net income of $22 million, more than 18 times the profit of the same year-earlier period, thanks in large part to an $18.5 million investment gain. more
It may not be sweater weather yet, but the annual deluge of pumpkin-flavored treats is on its way. more
For the third consecutive grant cycle, Rhode Island has received an award from the U.S. Small Business Administration’s State Trade and Export Promotion Program to support efforts to export by small businesses in the Ocean State. more
A new generation of Wall Street bankers is about to get a raise, as firms open wallets to head off defections to investment funds and Silicon Valley. more
Providence Optical was named one of “America’s Finest Optical Retailers” for 2014 by “Invision” magazine, a business publication for eyewear professionals. more
A $1.8 million waterfront house mistakenly built on Point Judith park land in Narragansett must be moved or torn down, the R.I. Supreme Court ruled Friday. more
Manufacturing expanded in August at the fastest pace in three years as orders grew by the most in a decade, showing U.S. factories will help power the economy into the third quarter. more
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