PODCAST: Legislature, EDC at War Over Reorganization
Monday, November 25, 2013
Related Slideshow: From the EDC to Commerce Corporation
The Rhode Island Economic Development Corporation, which was created in 1995, is slated to be replaced with the Rhode Island Commerce Corporation as of January 2014.
Below is an overview of the formation of the EDC, the fallout of 38 Studios, and the recommendation -- and approval -- of the Rhode Island Commerce Corporation to take its place.
The Rhode Island Economic Development Corporation (RIEDC) was created in 1995 with a "mission to strengthen the Rhode Island economy through policies, programs, and projects, which enhance and enrich the business environment for public and private sectors in order to create prosperity for all Rhode Islanders."
Annual Budget: $19,400,000
Total Personnel: 81
According to the Secretary of State, RIEDC "works with new and existing business to improve their competitiveness, train their workers, clear away barriers and provide the resources they need to grow and prosper. [RIEDC works to] research, introduce and promote legislation and programs to make Rhode Island a more hospitable state for starting and expanding a business."
GA Approves Overhaul
The General Assembly approves four pieces of legislation to "move Rhode Island's economy forward and reform the state's economic development structures" during the 2013 session.
Governor Lincoln Chafee allows three of the four bills to become law without his signature, signs a fourth bill
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