PROVIDENCE, RI – The head of the Rhode Island Retail Federation has a pessimistic view of holiday sales in the Ocean State. While the National Retail Federation is predicting a robust four percent growth in holiday sales, Paul DeRoche, director of the Rhode Island Retail Federation, expects it to be half that locally. "The economy is slow. Consumer confidence is not that great. So I think we'll have about a 1.5% to 2% growth over last year."
PROVIDENCE, RI – An infusion of 110 million in federal dollars will help to extend the main runway at T.F. Green Airport over the next five years. The money will also pay to mitigate noise and improve safety standards at the airport.
Senator Jack Reed was joined by local and state officials in announcing the availability of the money. Reed calls it an important step for improving one of the state's big economic generators.
PROVIDENCE, RI – The Rhode Island Foundation has rolled out a list of projects it would like to see worked on as part of its Make It Happen initiative. Hundreds of leaders in business, health care, the arts and other industry brain stormed for two days last month on ways to turn around the state's economy.
PROVIDENCE, RI – Some 500 veterans are expected to converge on to Diamond Hill Park in Cumberland this weekend for Operation Stand Down. The camp gives at-risk veterans a chance to tap into some much-needed services.
PROVIDENCE, RI – State Treasurer Gina Raimondo is lending her support to ballot question 7, which would allow the state to borrow 25 million dollars for affordable housing. The funds would be matched five fold in grants and donations from other sources.
Backers of the measure feel confident it will pass.
PROVIDENCE, RI – University of Rhode Island Professor of Economics Leonard Lardaro has released his monthly report on the state's economy. Lardaro says the July numbers show both good news and bad news.
"What a bizarre situation Rhode Island finds itself in the acceleration in activity that everyone here had been so eagerly awaiting has already occurred and is in the process of disappearing!" Those are the words used by Professor Lardaro in summarizing the start of the third quarter.