Business

Economy
7:03 am
Fri October 22, 2010

Crossroads receives $100-K to address increased demand

Photo by Flo Jonic.

PROVIDENCE, R.I. – Crossroads Rhode Island is getting some badly needed financial help. The Rhode Island Foundation has presented Crossroads with a check for $100,000 to deal with the overflow conditions it's confronting this year.

Crossroads president Anne Nolan says they saw more homeless people by the end of July as they did in all of 2009.

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Economy
6:19 am
Mon October 18, 2010

Improvements seen in Providence tourism industry

PROVIDENCE, R.I. – The Providence tourism industry appears to be on the rebound. Sixty-four percent of hotel rooms have been full on average so far this year, compared to 57 percent at this time last year.

The statistics come from the Providence Convention and Visitors Bureau whose spokeswoman, Kristen Adamo, says the hotel industry is back to pre-recessionary levels.

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Economy
7:37 am
Wed October 13, 2010

Gas prices jump in RI

PROVIDENCE, R.I. – Gas prices in Rhode Island have jumped 11 cents since last week and are up 16 cents in the last two weeks.

AAA Southern New England says in a weekly survey Tuesday that self-serve regular unleaded is now averaging $2.80 per gallon, or a penny below the national average. The average price in Rhode Island at the same time last year was $2.50.

AAA attributes the spike to a weakened U.S. dollar and an increase in global demand.

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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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