Updated February 9 at 9:09pm
Economic Activity
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In his first ever state-of-the-city address, second-year Mayor Jorge O. Elorza on Tuesday talked broadly about his first-year accomplishments and mapped out his future goals in a city he says is poised for economic growth but also facing financial challenges. more
Rhode Island is launching a program called Platform to Employment to help the long-term unemployed. more
U.S. Sen. Jack F. Reed said 25 Rhode Island cities and towns will share nearly $12.9 million in federal funding to develop, improve and finance public housing in their communities. more
Rhode Island’s foreclosure inventory rate was 1.7 percent in December, which was unchanged from December 2014, CoreLogic said Tuesday. more
Edesia Inc. is relocating from Providence to its new factory in the Quonset Business Park in April, and hosting a ribbon cutting May 2 and a grand opening and celebratory fundraiser on May 6. more
Job openings in the U.S. climbed in December to the second-highest level on record, a sign demand for labor remains strong. more
Rhode Island’s leading economic indicator was flat in December, as only three of the nine components that comprise it had a positive contribution: jobless claims, exports of manufactures and interest rate spread. more
Despite widespread predictions that droves of retiring baby boomers last year would result in more small businesses changing hands, there was an overall reduction in the number of transactions both regionally and nationally, according to a report by BizBuySell. more
Fitch Ratings has downgraded the city of Providence’s rating on two general obligation bonds, to BBB negative from BBB, citing financial pressure created by limited revenue growth and increasing costs, such as pension and post-employment retirement benefits. more
Gasoline prices fell 5 cents this week in Rhode Island and 4 cents in Massachusetts, hitting the lowest point in both states since January 2009, AAA Northeast said. more
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