Tax exemption well deserved
Schools such as Brown University should not have to defend their tax-exempt status. They earn that designation handsomely. A recent Brown University study concluded the Ivy League school contributed $227 million to the Rhode Island economy during the 1998-99 school year.
The study also pointed out that Brown purchased more than $65 million in goods and services from Rhode Island companies in 1998. Included in that were $30.4 million in goods and services provided by Providence companies and an additional $35.4 million in purchases from vendors elsewhere in the state. During the last five years, Brown has spent an average of $29 million per year on the construction of new facilities and the renovation of older ones. That means jobs, jobs and more jobs for Rhode Island contractors.
Brown University, the Rhode Island School of Design, Bryant College, Johnson & Wales, URI, PC and all of our cherished institutions of higher learning could put together some impressive numbers in terms of their economic impact on the Rhode Island economy. But they shouldn’t have to.
All of these schools deliver to Rhode Island an impact that goes well beyond economics. How do you measure the value of producing thousands of productive skilled employees for Rhode Island companies? And how do you measure the impact that each of these institutions has on our quality of life?
Universities bring us culture, education and entertainment. Their tax-exempt status is well deserved.
Renaissance expanded
For some time we’ve marveled at the transformation of a six block area in downtown Providence into one of the most beautiful downtowns in all of America. Equally, we’ve been concerned that while the renaissance was well under way at the foot of the state house, that other parts of Providence were being left to continue to decay.
That’s why we’re particularly pleased at the plans discussed most recently to begin expanding the renaissance to places like Westminster, Dorrance and Washington Streets, where developers want to renovate a once majestic structure into a modern movie complex, along with other development.
Our local film commissions learned a few years ago that the strength of our area is not only its waterfront, but what really sets us apart is our history, our architecture. If unattended, these buildings would continue to deteriorate and eventually would be lost.
A walk along Westminster or any of a number of downtown streets unveils a wonderful array of stories told in magnificent architecture on buildings that once revived will yet bring new grace and majesty to what was once the very hub of our state and our region.
Bear sightings?
What’s all the hullabaloo about bear sightings in Foster and Burrillville? We’ve been hearing about bear sightings over the last few years – from investors and stock analysts who have from time to time predicted a bear market might be upon us soon.
So, we wonder whether those who saw a bear lurking nearby in Rhode Island’s woods might not have been local homeowners or environmentalists, but instead a couple of wayward investment advisors.
