PROVIDENCE – The R.I. Economic Development Corporation (EDC) yesterday released its 2009 Economic Growth Plan, a 10-point action plan that addresses the state’s economic woes and poor job market.
The plan, subtitled “Rhode Island, Working Again,” emphasizes the need for the quasi-public EDC to assist small businesses; to build partnerships with the business community, other state agencies and the federal government; to focus on work force development; and to become more responsive.
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“In this economy, more than ever before, we need to be able to turn on a dime,” the plan says. “We need to provide struggling companies with capital when they need it, take strategic advantage of the coming infusion of federal stimulus dollars, be able to pounce when an out-of-state company is looking to relocate, and be ready with the perfect site, expedited permitting, and a work force with the right skills to step into those new jobs.”
Here are the 10 actions the EDC says are intended to “confront our economic challenges and begin to put Rhode Island back to work”:
• Help small business gain access to capital.
• Equip workers with skills for high-wage, innovation jobs.
• Foster new company creation and entrepreneurship.
• Create a public-private business attraction center.
• Develop robust regional and local partnerships.
• Establish expedited permitting procedures.
• Accelerate science and technology research.
• Expand renewable energy capabilities.
• Maximize economic impact of federal stimulus dollars.
• Reinvigorate EDC’s programs and initiatives.
With a downturn in the economy that has grown even more severe in recent months – and with unemployment at 10.5 percent as of February – the 2009 Economic Growth Plan clearly has a different tone than the plan from a year earlier.
The year-ago report, subtitled “Creating Higher Wage Job Opportunities for All Rhode Islanders,” put special emphasis on forming an innovation economy with the strategy of attracting higher-paying jobs to the state. It also called for increasing the availability of office and commercial space.
Since the agency issued its 2008 report, longtime EDC director Saul Kaplan has left to return to the private sector and J. Michael Saul has been named the agency’s interim director. (READ MORE) And Melissa Withers, the EDC director of communications and market development communications, followed Kaplan out the door in mid-December. (READ MORE)
The R.I. Economic Development Corporation is a quasi-public agency established to undertake port projects and promote business development, preservation and expansion in the state. Additional information – including the EDC’s 2009 Economic Growth Plan: “Rhode Island, Working Again” – is available at www.riedc.com.
