economy

RI News
9:02 am
Wed November 27, 2013

Home Sales Surging Back In Rhode Island

Home sales have surged back in Rhode Island.
Credit Courtesy RI Housing

October was another good month for home sales in Rhode Island.

The sale of single family homes in Rhode Island rose 19 percent between October 2012 and October 2013. During the same time frame the median price rose from $200,000 to $204,000.  Sales of condos rose 11 percent over the year and the median price is up 17 percent.

Rhode Island Association of Realtors president Robert Martin said growth in the housing market is slow and steady with no negatives.

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RI News
9:15 am
Mon November 25, 2013

Community Food Bank Straining To Keep Up With Demand

This year saw the demand for food rise in Rhode Island.
Credit Rhode Island Community Food Bank.

The Rhode Island Community Food Bank is out with its annual report on hunger.  It shows the recession is still playing a very large role in the lives of Ocean State residents.

The Rhode Island Community Food Bank is now serving 68-thousand people a month, up three percent from a year ago and an all-time high.  At the same time, food donations are down by nearly two million pounds, said Food Bank CEO Andrew Schiff.

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RI News
9:08 am
Fri November 22, 2013

Jobless Numbers Up In Rhode Island

Unemployment grew in Rhode Island.
Credit RIPR FILE

The latest employment numbers for Rhode Island are a mixed bag.

The state’s unemployment rate ticked up one-tenth of a point in September then held in October at 9-point-2 percent. But Rhode Island has added 35-hundred jobs since July.

Sectors seeing the largest growth were Professional and Business Services and Accommodation and Food Services. Rhode Island Department of Labor and Training Director Charles Fogarty said construction has also seen a nice bump over the past few months.

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RI News
8:47 am
Tue October 22, 2013

Shops Open As Historic Providence Arcade Gets New Life

The 1828 building the Providence Arcade now house 17 locally owned RI shops and restaurants.
Credit John Bender / RIPR

After sitting vacant for four years the Providence Arcade, one of the country’s oldest indoor shopping malls, has reopened.

Now the building, built in 1828, is getting a new life.

A bike shop, a jewelry store, and a café and bar were among the first wave of new stores to open in the newly renovated Arcade.

In all, eleven of the seventeen shops to be housed in the historic mall were ready for business during the first phase of its re-opening.

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Business
2:41 pm
Fri October 18, 2013

Providing Fertile Ground For Entrepreneurs

How do you define a start-up? And are these entrepreneurial businesses finding what they need to thrive and grow in Rhode Island?

Host Dave Fallon speaks with Philip Eil, editor of the Providence Phoenix, about Rhode Island's entrepreneurial landscape.

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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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