Business

Economy
8:29 am
Wed October 6, 2010

Families represent fastest growing homeless group in RI

Toni Talbot reads to her nine-year-old daughter Nicoi at a family shelter in Warwick. Photo by Flo Jonic.

PROVIDENCE, R.I. – Thirty years ago it was unheard of for a family to turn up at a homeless shelter. But today - three years into the worst recession since the Great Depression - families are the fastest growing segment of the homeless population in Rhode Island.

Nine-year-old Nicoi Thomas, a sweet girl with a mass of curly brown hair, comes home excited about what she's learned at school.

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Economy
5:30 am
Tue October 5, 2010

Bernanke visits RI

Ben Bernanke is pictured at the Rhode Island Convention Center. Photo by Megan Hall.

PROVIDENCE, R.I. – Ocean State college students had a chance to grill the federal reserve chairman on Monday. Ben Bernanke took their questions at a meeting at the Rhode Island Convention Center.

Bernanke fielded questions on everything from the bail-out of AIG to the lessons he's learned from the Great Depression. He also offered an apology.

"I'm sorry the economy's not stronger right now," he said.

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Economy
8:01 am
Mon September 27, 2010

Study finds potential for Tiverton wind farm

A wind turbine is pictured at New England Tech's Warwick campus. Photo by Louis Oppenheimer.

TIVERTON, R.I. – A new study says Tiverton's industrial park is the best place for a multitown wind farm.

The study by the East Bay Energy Consortium is scheduled to be presented to the town council on Monday.

The consortium was formed last year by the communities of Newport, Middletown, Portsmouth, Tiverton, Little Compton, Bristol, Warren, Barrington and East Providence.

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Economy
11:05 am
Fri September 24, 2010

38 Studios signs lease in Providence

One Empire Plaza has been selected as the future home of 38 Studios. Photo by Simone Landon.

PROVIDENCE, R.I. – Curt Schilling's video game company, 38 studios, says it has signed a lease to move its headquarters to Empire Street in downtown Providence. The company is currently based in Maynard, Mass.

Governor Don Carcieri hails 38 studios' decision to move to one empire plaza. He says the state's investment in 38 studios will create 450 high-paying jobs, and attract other interactive and entertainment companies to Rhode Island.

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Economy
6:19 am
Thu September 23, 2010

Stokes won't weigh in on his future at the EDC

WRNI file photo by Alex Nunes.

PROVIDENCE, R.I. – The head of the state Economic Development Corporation won't say whether he hopes to stay in the job when the next governor takes office.

The EDC has remained in the spotlight because of a controversial $75 million state loan guarantee for video game maker 38 studios. EDC head Keith Stokes took his job on a one-year basis last January. He says he hasn't given much thought to whether he'll stay on in the next administration.

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Economy
2:47 pm
Wed September 8, 2010

RI receives millions more for foreclosed homes

U.S. Senator Sheldon Whitehouse is seen at the Wednesday news conference announcing the funding. Photo by Louis Oppenheimer.

PROVIDENCE, R.I. – Senators Jack Reed and Sheldon Whitehouse announced today that Rhode Island is getting an additional six million dollars to rehab abandoned and foreclosed properties.

This is on top of $19 million the state received earlier for the same purpose.

The money comes from the U.S. Housing and Urban Development's Neighborhood Stabilization Program. The money may be used to fix up abandoned and foreclosed properties or help low and moderate income families buy them.

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Economy
1:48 pm
Tue September 7, 2010

Gas prices drop in RI for fourth straight week

WRNI file photo by James Wyman.

Providence, R.I. – Gas prices in Rhode Island have dropped for the fourth straight week.

AAA Southern New England says in its weekly survey that prices have now fallen by a dime over the last month.

Self-serve regular unleaded is now averaging $2.65 per gallon, or a penny less than last week. That's also three cents below the national average. The average price at the same time last year in Rhode Island was $2.67.

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Economy
4:47 am
Fri August 27, 2010

RI home sales drop 34 percent

A real estate sign is seen in Providence's West End. Photo by Alex Nunes.

Providence, R.I. – Earlier this week, investors were shocked by news that there had been a 27 percent drop in the sale of single family homes in July. Now we're learning that in Rhode Island the collapse was even worse.

Rhode Island home sales fell 34 percent in July, seven percent more than the national decrease. But the median price increased eight percent because far fewer distressed properties are on the market.

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Economy
7:40 am
Tue August 24, 2010

Appeals filed over Deepwater, National Grid wind deal

Providence, R.I. – An environmental group and two companies have filed Supreme Court appeals, challenging the purchase price for electricity generated by the proposed Block Island wind farm.

The companies, Toray Plastics and Polytop Corporation - filed a joint appeal. Their major concern is that the cost they pay for electricity will go up.

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Economy
6:42 am
Tue August 24, 2010

Budget questions loom at RIPTA

Providence, R.I. – Beginning next month, riders on RIPTA bus service will face a fare hike that includes a quarter increase for basic service. It's a move intended to address the latest budget crunch at the Rhode Island Public Transit Authority. Others may still be in store.

To discuss the financial situation at RIPTA and transportation in the Ocean State, WRNI's Bob Seay spoke with RIPTA board chairman John Rupp, who put the agency's financial situation into a national perspective.

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