economy

Business
9:02 am
Mon October 14, 2013

Government Shutdown Creating Some Obstacles For Homebuyers

The partial government shutdown is proving to be a problem for some American home buyers.  Most lenders require income verification through the IRS.  The verification requirement is problematic because most IRS functions have been suspended.  

Victoria Doran, president of the Rhode Island Association of Realtors, says it hasn’t caused a logjam yet but will if the government shutdown continues much longer.

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Scott MacKay Commentary
8:41 am
Mon October 14, 2013

Looking From Rhode Island, Massachussetts Grass Isn't Much Greener

Rhode Island State Capitol building
Credit RIPR FILE

It seems sometimes like every Rhode Island business and political leader points to the better economy in Massachusetts. RIPR political analyst Scott MacKay looked across the state border and finds more myth than reality.

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The Bottom Line
6:00 pm
Fri October 4, 2013

The Bottom Line: Survey Finds RI Businesses Optimistic

Rhode Island businesses say they're optimistic about the state's economy and their own prospects, though they're not yet confident enough to make major capital investments.

That's according to a new survey, as RIPR host Dave Fallon learns from Providence Business News' Mark Murphy in this week's Bottom Line.

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Business
1:52 pm
Fri September 27, 2013

"Make it Happen" One Year Later

A little more than a year ago, the Rhode Island Foundation gathered more than 300 people from across the community to brainstorm ways to boost the state’s sagging economy.

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Environment
2:56 pm
Tue September 24, 2013

Cliff Walk Repairs On Hold As Bid Is Examined

The Cliff Walk in better times, prior to Superstorm Sandy.
Credit RIPR FILE

Repairs to the Cliff Walk in Newport destroyed by Superstorm Sandy are on hold as the Department of Transportation is examining an unusually low bid that has been submitted.

The bid for repairs came at 3 million dollars; about 2 million less than most of the others.

The low amount raised eyebrows, said city official Robert Power, who was worried about the quality of the work.

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Scott MacKay Commentary
8:43 am
Mon September 23, 2013

The Harsh Realities of Rhode Island's Economy

Jump starting Rhode Island's economy will take more than the typical statehouse spin.
Credit RIPR FILE

Rhode Island’s politicians are talking about the economy again. Rhode Island Public Radio political analyst Scott MacKay warns of a campaign cliché voters ought to view with skepticism

As predictable as the turning of autumn leaves, Rhode Island’s political campaigns will once again be filled with talk about creating jobs and jump-starting our stalled economy. Expect to hear the ancient Ocean State chestnut from the pols who’ll say, the biggest economic fear of Rhode Islanders is that their children can’t stay in our state because there aren’t enough jobs.

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RIPR News
2:45 pm
Wed September 18, 2013

Census Finds RI has Highest Poverty Rate in New England

The U.S. Census Bureau’s latest data contain mixed signals about the state of Rhode Island’s economy.   The median income climbed by double digits but the state still has the highest poverty rate in the region.

While Rhode Island’s median household income climbed 14 percent from 2011 to 2012, the state remained stuck with the highest poverty rate in New England. Thirteen-point-six percent of all residents are living below the federal poverty level. Second is Maine at 12.8 percent.

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Business
3:15 pm
Mon September 16, 2013

URI Prof: Signs Show an Improving RI Economy

A University of Rhode Island economics professor who tracks the state’s economy every month finds it was in good shape for the month of July.

Professor Leonard Lardaro says nine of 12 indicators he tracks are in positive territory.  The only lagging indicators are government employment, the size of the labor force and new claims for unemployment.

Overall, Lardaro said we’re heading into the second half of the year in a fairly strong position.

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Politics
9:38 am
Wed August 28, 2013

Division of Taxation Hands Out Historic Tax Credits

Using a lottery system, the Division of Taxation handed out 31 Historic Tax credits.
Credit RIPR FILE

The Rhode Island Division of Taxation held a drawing Tuesday to award just $35 million in state historic tax credits.  The General Assembly voted earlier this year to reopen the historic tax credit program.

The Division of Taxation used a drawing to pick who would get the tax credits since demand outstripped supply. State Tax Administrator David Sullivan says the recipients comprise a variety of projects expected to boost the economy.

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Business
3:07 pm
Thu August 22, 2013

Providence’s Old Arcade is Filling Up With New Tenants

The Arcade, built in 1828, is thought to be the oldest indoor mall in the U.S. It is currently undergoing $7 million in renovations.
Credit Catherine Welch / RIPR

The owners of the Providence Arcade, the nation’s oldest indoor shopping mall, have announced some new tenants.  They include two restaurants and a women’s clothing boutique.

The largest restaurant space in the Arcade has been rented by an eatery called Rogue Island. It will specialize in local food and beer.  Also joining the Arcade business group is Livi’s Pockets a purveyor of fast Mediterranean food.

Rounding out the list of new tenants is a shop called Nude, which will feature the women’s clothing and handbags of six New England designers.

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