This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

RI House Looks For Ways To Improve Economy

By DAVID KLEPPER

PROVIDENCE, R.I. (AP) â¿¿ Rhode Island lawmakers turned to business leaders and economic development experts from Massachusetts and Connecticut on Thursday for constructive criticism on the state and its longstanding economic problems.

What they heard provided a long list of areas to improve: the state fails to work with business owners and entrepreneurs looking to locate or expand their businesses in the Ocean State; Rhode Island has an uncertain tax climate; its regulations are burdensome; and its schools are struggling.

"I don't think we've got a really good handle on what economic development is," Karl Wedensten, a board member of the state's Economic Development Corp., said.

Rhode Island and Vermont were the only two states to see their populations decline between July 2011 and July 2012. The state routinely ranks toward the bottom of national business climate rankings, and its unemployment rate remains in double digits at 10.2 percent.

House lawmakers canceled their daily session for the five-hour summit, which was open to the news media but closed to the general public. House Speaker Gordon Fox said it was imperative to hear from the experts as lawmakers craft legislation to address what he said is the General Assembly's most pressing challenge.

"The state of our economy is the central issue that we have to deal with," he said. "We know the public is clamoring for answers now, for fast action."

Several panelists told lawmakers the state needs to do a better job educating children and training workers for jobs in health care and technology.

Massachusetts Secretary of Housing and Economic Development Gregory Bialecki and Commissioner Catherine Smith of the Connecticut Department of Economic and Community Development discussed their state's economic development policies.

Bialecki said Massachusetts tries to build on the state's strengths rather than encourage industries that might not be a good fit for the state.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs