Horowitz: Raimondo is Putting Rhode Island on the Right Economic Path
Tuesday, February 02, 2016
Completing the most impressive first year of any Rhode Island Governor since Bruce Sundlun deftly managed the collapse of the credit unions more than twenty years ago, Gina Raimondo can point to many significant accomplishments when she gives her second State of the State Address this evening. In her first year, Governor Raimondo did exactly what she said she would do in her gubernatorial campaign; begin to put Rhode Island on the right economic path.
Seizing on the momentum and extra tax revenue generated by the national economic recovery, Governor Raimondo began smartly putting the building blocks in place to make Rhode Island more economically competitive for the long-term. Raimondo was successful in convincing the General Assembly to adopt her sound economic development strategy—one that is based in large measure on evidence and best practices, rejecting Rhode Island’s often insular parochialism and drawing on policy approaches that have succeeded in other states. These include targeted tax incentives to encourage businesses to locate here, an overhaul of job training, and long-overdue investments in infrastructure.
And her strategy is already producing concrete signs of success, some of which you can count on hearing about tonight. Chief among them is Wexford-CV Properties commitment to build a life-sciences complex on Providence’s 195 land, the manufacturing firm, Greystone, choosing to expand in Rhode Island instead of Virgina, two new hotels moving forward in Providence, and Electric Boat adding 4,000 jobs in Quonset and Connecticut close to the RI border.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThese successes, of course, are not the result of Raimondo’s efforts alone. Other elected officials, past and present, have played a role. Most importantly, the Governor is getting a timely boost from a better performing national economy. Rhode Island’s unemployment rate is now at its lowest at any point since before the Great Recession and the State added more new jobs last year than any year since 2000.
As the old saying goes in politics or in life in general, "it is better to be lucky than good.” But Raimondo is making the most of her luck, delivering positive economic changes that will pay long-term dividends.
This can be seen in her re-tooled proposal to fix Rhode Island bridges in part by charging tolls to mainly out-of-state big trucks. With a larger than expected recent infusion of federal transportation dollars, this re-worked proposal, now agreed to by the leadership of both houses of the General Assembly is designed to soften the opposition, by reducing the toll amounts, requiring less borrowing, and specifying the need for a referendum, if the tolls are to be expanded to cars. While the opponents are continuing to put up a spirited fight, this ambitious proposal is now very likely to pass.
Count on Raimondo to continue her proactive and aggressive approach to economic development in year two. A recent comprehensive Rhode Island economic strategy prepared by the Brookings Institution, in close coordination with the Governor, outlines the need for more strategic investments and public-private partnerships. It is a safe bet that a substantial number of these recommendations will be incorporated into the Governor’s speech tonight and reflected in the proposed state budge to also be unveiled this evening
While there is much more to be done for Rhode Island to stop under-performing economically and realize its true potential, Governor Raimondo’s vision and dogged implementation has put us on a promising path, one that can eventually lead to prosperity. After one year, that is about all any of us can ask.
Rob Horowitz is a strategic and communications consultant who provides general consulting, public relations, direct mail services and polling for national and state issue organizations, various non-profits and elected officials and candidates. He is an Adjunct Professor of Political Science at the University of Rhode Island.
Related Slideshow: 5 Economic Projects - Can Raimondo Get Them Done?
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