EDC

The public has a chance to weigh in Friday on a slate of proposed transportation projects that will be paid for out of a new fund

The new fund helps cities and towns access low-interest loans for road construction projects. It’s modeled after the state’s Clean Water Finance Authority, which over the past 15 years has loaned out $1 billion for municipal sewage treatment projects. In fact, the Clean Water Finance Authority will administer this new transportation fund.

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.

This week Dave and Mark talk with Rhode Island Economic Development Corporation Executive Director Marcel Valois. They discuss the EDC’s small business loan program and why slow and steady wins the race.

When to Listen

You can hear The Bottom Line each Friday at 5:50pm.

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.

This week Dave and Mark talk with Rhode Island Economic Development Corporation Executive Director Marcel Valois. They discuss the EDC’s long-term and short-term plans to spark economic growth, and the agency’s future after January 1st when legislative changes reshape the agency.

When to Listen

Wiki Commons

Belcourt of Newport has pulled its application for a state renewable energy grant. Alex and Ani owner Carolyn Rafaelian bought Belcourt and is currently renovating the Newport mansion.

The Rhode Island Economic Development Corporation was supposed to take up this month an $18,500 grant for a solar array and geo-thermal heating and cooling system for Belcourt. But the EDC said Belcourt has pulled the grant request.

The EDC put off a vote on awarding the grant at its last meeting after two board members recused themselves due to a conflict of interest.

Wikimedia Commons

The founder of Alex and Ani is seeking a grant from the Rhode Island Economic Development Corporation. The grant is to help make Belcourt Castle in Newport more eco-friendly.

Alex and Ani founder Carolyn Rafaelian bought Belcourt Castle, renamed it Belcourt of Newport, and is now refurbishing the place. Rafaelian is seeking a grant of $18,500 for a solar array and a geothermal heating and cooling system.  The grant would come from the EDC’s Renewable Energy Fund.

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