Laurie White

Ian Donnis / RIPR

More than 150 civic, business and political leaders gathered in the majestic grand banking hall of the vacant Superman Building Thursday to endorse the use of an as-yet-unspecified public subsidy to revitalize the iconic structure in downtown Providence.

Boosters said remaking the Jazz Age-era building with a mix of uses emphasizing residential would create more than 1,000 jobs, help fill the demand for more downtown housing, and offer other economic benefits.

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 it looks at business news and themes that affect local business and the public.

This week, Dave and Mark talk with Laurie White, president of the Greater Providence Chamber of Commerce.

The business community is applauding a proposed cut in Rhode Island’s corporate tax rate.

In his latest budget, Governor Lincoln Chafee calls for cutting the corporate tax from 9 to 7 percent over three years.

Greater Providence Chamber of Commerce head Laurie White calls that a smart move. “It would be a welcome change. It’s not a game-changer. There are lots of factors that contribute to positive business climate rankings and profile, but this is certainly a welcome step.”