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News - RIEDC

• RIEDC Awarded Special Achievement in GIS Award from ESRI

  08/14/2008 - 13:18

  The Rhode Island Economic Development Corporation has received the Special Achievement in Geographic Information Systems (GIS) Award for Leadership with Geospatial Technology from the Environmental Systems Research Institute (ESRI) at the organization’s annual International User Conference in San Diego.

• RIEDC's Saul Kaplan Discusses R.I.'s Economy with NPR's Robert Bailey

  08/13/2008 - 10:14

  Rhode Island Economic Development Corporation Executive Director Saul Kaplan talks with NPR's Robert Bailey about Rhode Island's "secret sauce:" its size, on the station's Marketing and Money segment.

• RIEDC, Cox Communications, Raytheon, Rite-Solutions and Teknor Apex Launch Summer Teacher Training Initiative

  08/12/2008 - 09:57

  In an effort to encourage yearlong teacher professional learning opportunities in the areas of science, technology, engineering and math (STEM), the Rhode Island Economic Development Corporation (RIEDC) announced the creation of Leadership Initiatives for Teaching and Technology (LIFT2) - Rhode Island, a statewide pilot program that allows teachers to work for a summer at a company where they explore real world industry applications of STEM.

• Nine Firms to Compete for Opportunity to Conduct Assessment of I-195 Surplus Property

  08/07/2008 - 08:19

  In June 2008, the RIEDC issued a request for proposals seeking a vendor to perform a professional redevelopment and marketing analysis for the I-195 surplus property. The analysis will evaluate land use solutions that maximize the economic and tax values of the relocation parcels and enhance the public use and enjoyment of the surrounding areas.

• Time is Running Out to Apply for the 2008 Rhode Island Innovation Awards

  08/06/2008 - 12:48

  The Innovation Awards, presented by the Providence Business News in partnership with the Rhode Island Economic Development Corporation and Tech Collective, and sponsored by Cox Business, are designed to honor Rhode Island-based companies, organizations and individuals that constantly replace existing methods, models and products with better ones.
  A short application form is due by August 20. Apply Now!

• Rhode Island Receives Top Marks in Two Economic Development Studies

  08/01/2008 - 11:40

  Two reports, measuring business cost and economic development climate, gave Rhode Island and Providence high marks in categories such as research and development, education climate and environmental efforts.

• RIEDC Financing Program to Create 90 New Jobs in Rhode Island

  07/30/2008 - 07:48

  The Rhode Island Economic Development Corporation’s Small Business Loan Fund (SBLF) has provided expansion capital loans totaling $1.75 million, enabling four Rhode Island businesses to create more than 90 new jobs.

• InQuest Technologies Announces Corporate Relocation to Rhode Island

  07/28/2008 - 12:51

  InQuest Technologies, the developer of IQ9, the leading platform for delivering web-based enterprise business applications, today announced that the company will relocate its headquarters from Southborough, Massachusetts to Providence, Rhode Island in September 2008. InQuest will relocate approximately 20 employees when doors at the new office open this fall with plans to hire aggressively and grow this location to 50 employees.

• Steven King Named New Managing Director of QDC

  07/24/2008 - 08:57

  Steven J. King, P.E. has been named Managing Director of the Quonset Development Corporation. King, a Professional Engineer, has worked at Quonset since 1998. At its board meeting on Monday, July 21, 2008, the QDC Board of Directors unanimously concurred with Kaplan’s appointment of King.

• Aspen Aerogels Opens $30-million Facility in East Providence

  07/17/2008 - 13:39

  Aspen Aerogels, a manufacturer of energy-efficient, aerogel-based insulation solutions, opened a $30-million, 150,000-square-foot manufacturing facility in East Providence Monday. The company’s expansion brings dozens of jobs to Rhode Island, with plans to add 60 more over the next three years.

• CVS Caremark Announces Expansion of its Rhode Island Operations

  07/17/2008 - 13:16

  CVS Caremark Corporation, the largest provider of prescriptions in the United States, today announced expansion plans for its Rhode Island operations over the next two years.  The company plans to build two new 150,000-square-foot office facilities in the Highland Corporate Park in Cumberland, R.I. The new facilities are designed to support the company’s continuing growth and current hiring expectation of more than 200 new positions on its corporate campus. 

• A note from RIEDC Executive Director Saul Kaplan

  06/27/2008 - 10:50

  Last week, the Milken Institute’s State Technology and Science Index confirmed that Rhode Island has made progress in its effort to become a regional and national hub for science, technology and innovation.  Milken’s Index uses a variety of indicators to measure how well each state is performing in today’s global knowledge-based economy.

• Strong Showing for Providence in 'Cybercities' Report

  06/25/2008 - 13:25

  The American Electronics Association's 2008 Cybercities report ranked the Providence-Fall River-New Bedford area as one of the nation's top cities in several areas measuring the technology industry.

• Rhode Island Breaks Into Top 10 of Science and Technology Report

  06/20/2008 - 09:10

  Rhode Island has moved up to 10th place in the 2008 State Science and Technology Index, released by California-based Milken Institute. The report uses a host of indicators to paint a comprehensive picture of how well states are performing in today’s highly competitive knowledge-based economy.

• Rhode Island to Host First Ever Supply Chain Management Summit

  06/13/2008 - 15:47

  On Friday, June 20, 2008, the Rhode Island Economic Development Corporation (RIEDC), Rhode Island Manufacturing Extension Services (RIMES), Bryant University’s Chafee Center for International Business and Banneker Industries, Inc. will be hosting the first ever RI Supply Chain Management (SCM) Summit. The RI-SCM Summit will bring together both the public and private sectors to promote best practices of SCM within the state as well as highlight the expertise and resources available in SCM to RI institutions. The event will be held from 8:00 a.m.-4:00 p.m. at the George E. Bello Center for Information Technology at Bryant University in Smithfield, RI.

• RI Nexus Expands Activities, Announces New Collaboration with Providence Geeks

  06/10/2008 - 10:59

  The Rhode Island Economic Development Corporation has announced the next phase of activity for RI Nexus, the RIEDC program dedicated to information sharing and community building in the state's info-tech and digital media (ITDM) sector. Activities will include improvements to the RINexus.com online hub, an expanded line-up of events and activities and a deepened partnership with Providence Geeks, the group co-founded by RI Nexus program director Jack Templin.

• Chaffee Industrial Roofing Celebrates 100th Anniversary

  06/02/2008 - 12:46

  East Providence’s Chaffee Industrial Roofing today celebrated 100 years in business. The firm, established in 1908 by Thomas K. Chaffee, installs and services roofs on industrial and commercial buildings throughout New England.

• Governor Carcieri to Convene Economic Policy Council

  05/20/2008 - 12:56

  Governor Donald L. Carcieri will host a meeting of the Economic Policy Council on May 21, 2008 and lead business and civic leaders in a discussion of the state’s economic development plan and priorities.  This is the first meeting of the EPC since the council was consolidated into the Rhode Island Economic Development Corporation (RIEDC).

• Legislation Seeks Growth Capital Program to Support Rhode Island Businesses

  05/15/2008 - 10:20

  Legislation to create a $20-million Growth Capital Guarantee Program has been introduced to the Senate and House of Representatives of the Rhode Island General Assembly. The legislation seeks to reposition existing guarantee authority currently in the Rhode Island Industrial-Recreational Building Authority (IRBA) program to help companies well positioned to create new high-wage jobs obtain growth capital from private sector lenders using assets other than real estate, machinery and equipment.

• RIEDC to Sponsor Supply Chain Management Summit

  05/13/2008 - 10:37

  The Rhode Island Economic Development Corporation (RIEDC), along with Bryant University, Banneker and the Rhode Island Manufacturing Extension Services (RIMES), is sponsoring the 2008 Rhode Island Supply Chain Management Summit.

• APC to Keep Corporate Headquarters in Rhode Island

  05/12/2008 - 13:28

  American Power Conversion, the global leader in integrated critical power and cooling, announced that the company will remain at its current location in South Kingstown on Fairgrounds Road. APC had been reviewing other location possibilities, but decided that the South Kingstown, Rhode Island facility best suited the company’s needs.

• RIEDC Financing Programs Create, Retain More than 400 Jobs in 12 Month Period

  05/12/2008 - 08:49

  The Rhode Island Economic Development Corporation’s Small Business Loan Fund (SBLF) and Micro Loan program have helped create and/or retain more than 400 jobs in the last year.  Since June 2007, 12 loans totaling $2.6 million were awarded to both small and mid-sized businesses located in communities throughout the state.

• Governor Carcieri, APC and RIEDC to Host Dpt. of Commerce Officials Visit to R.I. as Part of “Invest in America” Week Activities

  05/08/2008 - 07:45

  U.S. Department of Commerce officials plan to visit Rhode Island today to highlight the benefits of foreign investments made in the U.S. as part of the agency’s Invest in America Week activities. Invest in America Week will be held May 5-9, 2008, featuring events spanning the United States. These events will highlight the importance of foreign direct investment (FDI) for jobs and economic growth through a series of site visits to foreign investor-owned facilities in states across the country. West Kingston, R.I.-based APC, a global leader in integrated critical power and cooling services, will serve as host site for Rhode Island’s Invest in America Week activities on May 8. APC is owned by France-based Schneider Electronic, a $25 billion global specialist in energy management.

• RIEDC Announces Changes to State’s Expedited Permitting Program

  04/29/2008 - 08:07

  The Rhode Island Economic Development Corporation (RIEDC) today announced changes to the agency’s expedited permitting process, known as Certificate of Critical Economic Concern (CCEC).  The changes are designed to make the program a more useful tool in the state’s effort to expedite high priority economic development projects and to accelerate the creation of higher wage job opportunities for Rhode Islanders.

• Forensic Risk Alliance Leases Full Floor in Providence's iBuilding

  04/22/2008 - 07:54

  Forensic Risk Alliance (FRA), a leading international provider of forensic investigation and litigation support services with offices in New York and London, has entered into a lease agreement to relocate their US Headquarters to the “iBuilding” at 170 Westminster Street in Downtown Providence during the summer of 2008.

• RIEDC Expands Small Business Support Effort

  04/21/2008 - 09:42

  The RIEDC has announced the expansion of the Regulatory Flexibility (RegFlex) program, an effort to reduce the regulatory burden on small businesses. RegFlex is administered by the agency’s Every Company Counts small business service unit. RegFlex expansion will increase RIEDC’s outreach with both small businesses and state agencies to better understand the impact of state regulations and to suggest improvements that will lessen the regulatory burden on small business.

• Concordia Expands Medical Manufacturing Operation in Rhode Island

  04/17/2008 - 12:22

  The Rhode Island Economic Development Corporation (RIEDC) announced today that Concordia Manufacturing, LLC has received a $500,000 loan from the Small Business Loan Fund to assist in its plans to expand its medical manufacturing operations.

• Kelly Space & Technology Opens East Coast Operation in Rhode Island

  04/15/2008 - 07:53

  The Rhode Island Economic Development Corporation (RIEDC) today announced that Kelly Space & Technology, Inc., a San Bernardino-based California company focusing on aerospace, energy and homeland security technologies, is establishing an East Coast operation in Rhode Island. As production commences over the next year, Kelly estimates its Rhode Island facility will house approximately 50 employees.

• RIEDC Partners in Regional Defense Industry Partnership

  04/09/2008 - 15:14

  The Rhode Island Economic Development Corporation (RIEDC) today announced the agency’s participation in the Defense Technology Initiative (DTI), a new six-state network that will work to grow the region’s premier defense technology cluster. DTI’s mission is to create jobs, strengthen the regional workforce and increase the New England-area defense community’s political presence with the Pentagon and on Capitol Hill.

• RIEDC, City of Providence and Rhode Island Department of Transportation Partner for Redevelopment of I-195 Surplus Land

  04/02/2008 - 08:54

  The new landscape created by the relocation of I-195, better known as the IWay, in Providence, which will make approximately 19.2 acres of land available for redevelopment, represents one of the most important economic development opportunities in Rhode Island’s recent history. The redevelopment has the potential to change the skyline of the capital city, add significant office and commercial space to the area and create a new hub of high-wage job growth.

• An Open Letter to the R.I. General Assembly from RIEDC Executive Director Saul Kaplan on Proposed Tax Legislation

  03/31/2008 - 15:12

  Business and tax climate have a powerful effect on our efforts to reposition Rhode Island’s economy and create more high-wage jobs for our state’s citizens. We must continue to improve Rhode Island’s tax competitiveness and hold the line on the progress we have made. Two bills recently introduced to the Rhode Island House of Representatives (H7950 and H7343) seek to increase personal and business income taxes and raise capital gains taxes. These changes to our tax structure will increase the tax burden faced by our state’s residents and businesses and jeopardize progress we have made in improving our regional and national competitiveness.

• RIEDC’s Saul Kaplan Discusses Rhode Island’s Growth Plan with BioRegion News

  03/19/2008 - 14:53

  RIEDC Executive Director Saul Kaplan recently sat down for a Q&A session with a reporter from BioRegion News to discuss Rhode Island’s economic growth plan and the state’s bid to grow a high wage innovation economy.

• RIEDC, CCRI Partner to Recommend CCRI Workforce Commission

  03/13/2008 - 08:26

  The Community College of Rhode Island (CCRI) and the Rhode Island Economic Development Corporation (RIEDC) announced today that legislation to create the CCRI 21st Century Workforce Commission has been submitted to the Rhode Island General Assembly (H7889, S2450). The legislation is sponsored by Senate Majority Leader M. Teresa Paiva Weed and House Majority Leader Gordon Fox. The commission will recommend specific actions to strengthen CCRI’s position as a key institution in Rhode Island’s effort to create a 21st century workforce well prepared for the high-wage job opportunities created by knowledge economy companies.

• Governor Carcieri Announces Consolidation of Economic Policy Council into the Economic Development Corporation

  03/11/2008 - 13:30

  Governor Donald L. Carcieri today announced his decision to consolidate the Economic Policy Council (EPC) into an advisory council for the Rhode Island Economic Development Corporation (RIEDC). The advisory Council will remain in place and the Board will be chaired by Governor Carcieri. RIEDC Executive Director Saul Kaplan will continue as an EPC member and will assume responsibility for providing staff support to the Council. Consolidating EPC and RIEDC will ensure closer alignment around a single economic development strategy, sharpen the state’s focus on priority programs and will save the state money.

• Saul Kaplan in ProJo Editorial: Difficult Economic Times Call for Decisive Action

  03/10/2008 - 11:57

  Rhode Island is at a tipping point and we must work together to manage a difficult state budget, improve our tax competitiveness, and provide businesses with the tools they need to grow. We must become a knowledge economy that produces better jobs for all Rhode Islanders. Recent employment numbers only increase our resolve to accelerate the transition.

• Cutting-Edge Composites Training Program is Launched in R.I.

  03/07/2008 - 03:00

  The Rhode Island Economic Development (RIEDC) in conjunction with the New England Institute of Technology announced today open enrollment in a federally funded workforce development program targeting the marine trades industry in the Ocean State. The Composite Repair & Boat Construction Training program is an intensive 12-week program aimed at increasing the number of qualified employees who have an expertise working with composite materials.

• RIEDC, Rhode Island Commodores Partner to Launch Attraction Campaign in High-wage Sector

  02/26/2008 - 14:51

  The Rhode Island Economic Development Corporation (RIEDC) today announced the launch of Opportunity: Rhode Island, a regional attraction campaign aimed at identifying expansion and relocation opportunities initially focused in the Financial Services, Information Technology and Digital Media, and Health and Life Sciences sectors. The campaign, funded in part by the Rhode Island Commodores, will use direct marketing, industry events and peer outreach to generate new business development leads.

• RIEDC 2008 Economic Growth Plan: Creating Higher Wage Job Opportunities for All Rhode Islanders

  02/26/2008 - 14:45

  Over the last few decades Rhode Island's economy has changed in fundamental ways. Like the rest of the nation, our economy has shifted away from a reliance on machinery and equipment to "knowledge workers" who generate ideas and information. We must now compete in an economy where innovation and knowledge are the primary drivers of economic growth. Though daunting, the transition to a new global innovation economy offers Rhode Island an opportunity to achieve greater prosperity now and in the years to come.

• RIEDC Launches New Alliance with Two Area Business Development Companies

  02/26/2008 - 11:57

  The Rhode Island Economic Development Corporation (RIEDC) today announced a new strategic alliance with the Business Development Company of Rhode Island (BDCRI) and the Business Development Company of New England (BDCNE). RIEDC joins with the BDCs in a partnership to bring the financing tools of two of the most recognized business development organizations in the United States to an expanded number of Rhode Island businesses with more that $200 million in growth capital products available to invest.

• RIEDC Announces New Finance Program to Assist Rhode Island Growth Companies

  02/26/2008 - 11:48

  The Rhode Island Economic Development Corporation announced legislation sponsored by House Majority Leader Gordon Fox and Senator William Walaska, Chairman, Senate Corporations Committee that seeks to increase available growth capital for Rhode Island companies well positioned to grow and create new high-wage jobs.

• RIEDC Aids Goetz Custom Boats with Workforce Development, Financing

  01/22/2008 - 09:11

  Bristol’s Goetz Custom Boats was recently awarded a Governor’s Workforce Board grant of $68,000 to train 20 new employees as well as financing that helped the company build a 43,000-square-foot manufacturing facility in Bristol. The Rhode Island Economic Development Corporation assisted Goetz in obtaining both the workforce grant and financing for their new facility.

• Neurotech Pharmaceuticals Announces Rhode Island Expansion Plan

  01/16/2008 - 13:34

  Biotechnology company focused on sight-saving technologies is aided by state in developing new office and manufacturing facility

• Two EDC Initiatives Cited as PBN 2007 Stories of the Year

  01/07/2008 - 16:20

  RI Nexus, the EDC's online hub for the state's info-tech and digital media community, and the agency's quick response to expedite the permitting process for Johnston’s FM Global - ensuring the company stayed in Rhode Island, were named two of the top 10 stories of the year by the Providence Business News.

• RIEDC Proposes Expedited Review Process to Assist High-Priority Economic Development Prospects

  12/19/2007 - 16:18

  The Rhode Island Economic Development Corporation (RIEDC) today announced it will propose new rules to strengthen the agency's expedited permitting process, Certificate of Critical Economic Concern (CCEC). The agency cited the recent decision by commercial property insurer FM Global, Rhode Island's largest private company, to build a new $60 million, 340,000 square-foot headquarters in Johnston, as a model of how expedited review of high priority economic development projects can improve the state's business climate and retain and create high wage jobs in Rhode Island.

• MEDICA Trade Fair Spawns Leads for R.I. Firms

  12/17/2007 - 10:07

  The Rhode Island Economic Development Corporation partnered with other state agencies across New England to attend MEDICA 2007 in Dusseldorf, Germany from November 14–17.

• Innovation Tax Credit Stimulates Investment in Rhode Island Companies

  11/27/2007 - 03:00

  The RIEDC Board of Directors has pre-approved six companies to pursue investments that will be eligible for the state's new Innovation Tax Credit program. The credit will offer investors up to a 50 percent credit on eligible investments, with a maximum credit of $100,000. Proposed by STAC and enacted into law by Governor Donald Carcieri and the General Assembly in 2006, the Innovation Tax Credit is designed to attract and retain serial entrepreneurs and stimulate economic growth in high-wage, high-growth industries.

• PBN, RIEDC Honor 2007 Innovation Award Winners

  09/20/2007 - 16:29

  Providence Business News and the Rhode Island Economic Development Corporation are thrilled to announce the winners of this year's 2007 Rhode Island Innovation Awards. Launched in 2006, the Rhode Island Innovation Awards honor individuals and organizations that are making innovation central to their activities or have gone beyond the call of duty to help others innovate.

• Matchmaker Event Spurs Success Story

  08/06/2007 - 15:30

  In June, the Rhode Island Economic Development Corporation and the Rhode Island Procurement Technical Assistance Center, as members of the Department of Defense Northeast Regional Small Business Council, hosted a three-day spring matchmaker event at the Crowne Plaza Hotel in Warwick, where 577 small businesses and 63 prime contractors and federal agencies attended.

• RIEDC Surpasses Governor Carcieri's Goal of 20,000 New Jobs

  07/31/2007 - 02:00

  With the June numbers in from the Rhode Island Department of Labor and Training, Governor Donald L. Carcieri has announced that the state has reached his goal of 20,000 new jobs by 2007. In fact, the state surpassed Carcieri's goal by 100 jobs, with 20,100 new jobs, thanks to a record-high job count in June of 499,100 non-farm jobs.

• RIEDC, Tech Collective and the PBN partner to host 2007 Rhode Island Innovation Awards and Tech Laureates Night

  07/26/2007 - 11:46

  The Rhode Island Economic Development Corporation (RIEDC), Providence Business News (PBN) and the Tech Collective are now accepting applications for the annual Rhode Island Innovation Awards program. Awards will be presented at the 2007 Innovation Awards and Tech Laureates Night, a gala celebration of the state's innovators and technology leaders, will be held on September 20, 2007 at Hasbro's world headquarters in Pawtucket, RI.

• Quonset Development Corporation Announces Management Change

  07/13/2007 - 02:00

  Rhode Island Economic Development Corporation (RIEDC) executive director and Quonset Development Corporation (QDC) board chairman Saul Kaplan today announced the departure of QDC CEO Geoff Grout. Grout's departure will be effective immediately. "Geoff Grout is a great real estate professional. He made an important contribution to the growth of QDC during his service and I appreciate his work," said Kaplan.

• RIEDC Names J. Michael Saul New Managing Director of Finance Programs

  07/12/2007 - 02:00

  J. Michael Saul has accepted a permanent position at the Rhode Island Economic Development Corporation (RIEDC) as Managing Director of Finance Programs. Saul will manage the agency's portfolio of financing programs and, after completing a comprehensive review of the state's current financing tools, recommend a plan for updating the platform to better match the needs of Rhode Island companies.

• RIEDC, RIMES Forge New Alliance to Promote Growth in Manufacturing

  05/22/2007 - 02:00

  The Rhode Island Economic Development Corporation (RIEDC) and the Rhode Island Manufacturing Extension Service (RIMES) today announced a new alliance aimed at strengthening the state's manufacturing sector. Created in 1996, RIMES provides comprehensive manufacturing solutions to Rhode Island's small and medium-size manufacturers, helping them solve business problems and raise their level of competitiveness and profitability. As part of the collaboration, RIMES will co-locate with RIEDC at the corporation's Valley Street offices.

• Urban Revitalization Fund, RIEDC Form Alliance to Promote Synergy Across Rhode Island's Finance Programs

  01/24/2007 - 03:00

  The Rhode Island Economic Development Corporation (RIEDC) and The Urban Revitalization Fund (TURF) announced a new alliance that will strengthen and better align the financing programs offered by both organizations. Through the alliance, TURF will co-locate with RIEDC at the corporation's new offices in the American Locomotive Works Development. In addition, TURF Executive Director Michael Saul will lead a comprehensive review of RIEDC's current financing programs and recommend a plan for updating the platform to better match the needs of Rhode Island companies.

• Rhode Island Economic Development Corporation Moves into American Locomotive Works Development

  01/11/2007 - 03:00

  The Rhode Island Economic Development Corporation (RIEDC) announced that its plans to relocate its offices into the American Locomotive Works (ALCO) development site will occur on January 16.

• Ruby Slippers II

  07/31/2006 - 16:16

  ON MAY 14, 2004, I asserted on this op-ed page that Rhode Island has a bright economic future ("Rhode Island wears ruby slippers"). I claimed that Rhode Island is wearing ruby slippers but that many of us don't realize it.

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