At the second Rhode Island Economic Summit, organized by the state’s U.S. Small Business Administration office and the R.I. Small Business Development Center, the central topic of discussion was the state’s deficit.
And on hand to take the heat – and answer questions – were Gov. Donald L. Carcieri, Lt. Gov. Elizabeth H. Roberts and House Majority Leader Gordon D. Fox, D-Providence.
With a recession looming, the small business owners are facing the same problem the state is: rising costs and shrinking revenue.
The more than 150 people in attendance coalesced around an agenda that they would take to the state, in hopes of spurring an economic rebound. (
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Included are calls to:
• Consolidate and regionalize fire, police and school administration functions.
• Maintain the capital gains tax phase-out, the state Alternative Flat Income Tax and the Property Tax Relief Cap.
• Invest in economic development to get out of the budget deficit.
• Support the R.I. Economic Development Corporation to review, update and streamline regulations.
The approach is a sound one, because economic growth is the only real, long-term solution to the budget crisis. •