EDC

Gov. Lincoln Chafee’s choice to lead the state Economic Development Corporation faces approval by a state Senate committee Tuesday. The vote comes amid debate over whether to reorganize the EDC.

Chafee’s choice, Marcel Valois led the EDC back in the 1990’s during Lincoln Almond’s tenure as governor. Valois is the vice president of an economic foundation. He was previously chief operating officer of the Penske Automotive Group.

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.

Gov. Chafee: Having Trouble Filling EDC Board

Mar 5, 2013

Gov. Lincoln Chafee says he’s having some trouble getting people to serve on the board of the Rhode Island Economic Development Corporation. Seven of the 13 board seats are empty and the agency has no director.  

Chafee says people he’s approached are reluctant to serve because of the high-profile nature of the troubled agency.

Two More EDC Board Members Step Down

Feb 26, 2013

There’s more turmoil at the top of the Rhode Island Economic Development Corporation as two more board members have stepped down.

EDC board members Jack Templin and Cheryl Watkins Snead have tendered their resignations, leaving just seven members on a 13 member board.  Templin is quitting halfway through a four year term to focus on his business interests. Watkins Snead is finishing up a three year term.

Remaining EDC board member Karl Wadensten says he’s sad to see them go but sees opportunity in the chance to appoint new members.

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 take a look into why it’s been a problem for the Rhode Island Economic Development Corporation to find local companies to share what’s ballooned into a $3.5 million grant for small businesses.

When to Listen

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

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