Economic Development
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Cuts in defense, Medicare could mean fewer jobs for R.I.
Rhode Island could lose up to $82 million and more than 3,000 jobs due to sequestration in defense and Medicare spending, respectively, according to reports released by the Center for Security Policy and the Hospital Association of Rhode Island. more
R.I. Port Services named terminal operator by QDC
The Quonset Development Corp. has named Rhode Island-based company R.I. Port Services as the new terminal operating agency for container handling at the Port of Davisville, the seventh largest auto importer in North America. more
| 9/13/12
R.I. Foundation calls for change at Make It Happen RI forum
“Things need to change” in the Ocean State economy, Rhode Island Foundation Executive Director Neil Steinberg told business and community leaders Friday morning in a plea for new ideas at the nonprofit's Make It Happen RI forum. more
Payrolls in U.S. increase less than forecast in August
Payrolls rose less than projected in August and the unemployment rate was unexpectedly driven down by Americans leaving the labor force, boosting the odds of additional Federal Reserve easing to spur a faltering recovery. more
Stokes joins Mayforth Group
Former R.I. Economic Development Corporation Executive Director Keith W. Stokes has joined The Mayforth Group, the Providence-based consulting firm announced Wednesday. more
| 9/5/12
U.S. stocks fall as report shows manufacturing shrank in August
U.S. stocks fell, following a two- week decline in the Standard & Poor’s 500 Index, as data showed American manufacturing contracted in August, fueling concern the economic recovery is slowing. more
Beige Book: New England growth ‘continues to disappoint’
During June and July, economic growth in the New England region “continued to disappoint” as employment growth faltered and the region lost 2,500 jobs in June alone, according to the Beige Book report from the Federal Reserve Bank of Boston. more
EDC forms ‘litigation subcommittee’ to oversee 38 Studios lawsuits
A three-member “litigation subcommittee” was created by the R.I. Economic Development Corporation Board of Directors Monday night to oversee legal efforts to recover taxpayer funds lost from the failure of 38 Studios LLC. more
EDC grants $1M loan guarantee to eNow Inc.
The R.I. Economic Development Corporation has guaranteed a $1 million loan to eNow Inc., an expanding Providence company that makes solar power systems for trucks. more
Six-month export growth benefits R.I. companies
Rhode Island merchandise exports increased 9 percent during the first half of 2012 compared with the same period in 2011, growing from $1.1 billion to $1.2 billion, according to data released by the International Trade Administration. more
| 8/27/12
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