With a former small-businessman in the governor’s office, the state has a chance to finally shed its long-standing image as a place that’s too often unfriendly to business.
But no matter how committed Gov. Daniel J. McKee becomes in his first full term, only a concerted effort among state and municipal leaders will lead to meaningful, lasting changes.
The governor deserves credit for at least acknowledging the problem, even if he doesn’t fully agree with the state’s annual abysmal showing in national rankings.
In an extensive interview with Providence Business News, Gov. McKee pointed to a handful of recent changes he championed to boost the state’s business competitiveness. They include a $50,000 exemption to the tangible property tax paid by businesses on equipment.
Such incremental changes matter but they are a drop in the bucket when it comes to reversing decades of built-up resentment toward overregulation, high taxes and fees. And without a statewide game plan, they are also undermined by regrettable moves such as the 2021 decision to join a small minority of states in taxing large Paycheck Protection Program loans.
Brewed Awakenings Coffeehouse owner David Levesque told PBN the biggest gripe he has with Rhode Island’s approach toward businesses is the lack of a “common message” from state leaders.
Gov. McKee must not only send a consistent message of support for business development and growth. He must also get other state and local leaders to sing the same tune more consistently.
Only then will the welcome mat to businesses be visible across the state.