News and press releases from RIPEC, the Rhode Island Public Expenditure Council
Rhode Island public Expenditures Council
PROVIDENCE, R.I. (May 2013) – The Rhode Island Current Economic Indicator (CEI) indicates that the fourth quarter indicator for FY 2012 was revised downward, contracting at an annualized rate of 0.04 percent. However, estimates for the first quarter of 2013 indicate that the state experienced more robust growth than previously predicted. Based on the CEI, Rhode Island’s economy grew at an annual rate of 1.6 percent, compared to the 1.1 percent expansion projected by last quarter’s CEI. The leading indicator, which projects the next quarter growth rate, estimates the state economy will continue to increase at an annualized rate of 1.8 percent in the second quarter of 2013. A copy of the press release is here and the full briefing is available here.
As a part of the RIPEC forum, sponsored by Fidelity Investments, on Improving Customer Service through Regulatory Reform at the Department of Environmental Management (DEM), the Department has developed a feedback survey available here. Survey results will help DEM as Department works to improve customer service and responsiveness.
RIPEC will hold a forum on improving customer service through the Rhode Island Department of Environmental Management (DEM)’s regulatory reform efforts, sponsored by Fidelity Investments. See the full media alert.
STATE HOUSE, Providence – The Rhode Island Senate today passed a central component of the “Moving the Needle” package of economic development legislation. In a unanimous vote, the Senate passed (2013-S0712aa) to require that upon the election or re-election of the governor a long-term, strategic vision be developed for economic development. See the full release here.
PROVIDENCE, R.I. (February 2013) – Based on the Rhode Island Current Economic Indicator (CEI) for the fourth quarter of 2012, Rhode Island’s economy grew by just 0.3 percent, compared to a 1.9 percent expansion in Q3. Despite this slow growth, the leading indicator, which projects the next quarter growth rate, estimates the state economy will increase at an annualized rate of 1.1 percent in the first quarter of 2013. The full release is here and a copy of the full briefing is available here.
STATE HOUSE, Providence – President of the Senate M. Teresa Paiva Weed was joined at a news conference today by Rhode Island Public Expenditure Council Executive Director John C. Simmons, Greater Providence Chamber of Commerce President Laurie White, and others where they unveiled a report and recommendations to address Rhode Island’s rankings on business competitiveness surveys. Entitled “Moving the Needle,” the report reviewed the individual factors that often cause Rhode Island to rank poorly compared to other states, and made recommendations to begin to improve the state’s ranking and overall business climate. The report was a joint effort of the Rhode Island Senate and RIPEC. The full release is available here. The report is available here.
Based on the Rhode Island Current Economic Indicator (CEI) for the third quarter of 2012, Rhode Island’s economy in the first and second quarters of the year expanded faster than previously published. The leading indicator, which projects the next quarter growth rate, estimates the state economy will increase at an annualized rate of 1.8 percent, more than three times higher than previous estimates. The full press release is here and the full briefing is here.
The Rhode Island Public Expenditure Council will hold its 69th Annual Meeting on Thursday, October 18, 2012 at the Rhode Island Convention Center. Cook Political Report editor Jennifer Duffy will deliver the keynote address on the nation’s political landscape and the upcoming elections’ effect on Rhode Island. Attendees will also hear remarks from Governor Lincoln Chafee, Senate President M Teresa Paiva-Weed and Speaker Gordon Fox. As a part of the evening’s events, RIPEC will also honor this year’s public service award winners, Anthony Pesare, Chief of Police in Middletown, and Sharon Reynolds Ferland, Fiscal Advisor for the Rhode Island House of Representatives. Anthony M. Pesare, the Chief of Police for the Town of Middletown, is this year’s recipient of the 2012 Robert M. Goodrich Distinguished Public Service Award. Chief Pesare’s career in law enforcement began with the Rhode Island State Police in 1974, where he served for 24 years. Prior to joining the Middletown Police Department, he was Dean of the School of Justice Studies, and Associate Professor of Criminal Justice at Roger Williams University. He joined the Middletown Police Department as Chief of Police in 2004. In 2007, he received the Gerhard O.W. Meuller Innovator’s Award in Criminal Justice from the Northeastern Association of Criminal Justice Sciences, and, in 2008, he received the Community Service Award from the Newport County Community Health Center. Chief Pesare received his B.S. degree in Administration of Justice from Roger Williams University, his Master of Public Administration from the University of Rhode Island, and his Juris Doctor from the New England School of Law. The Gary S. Sasse Distinguished Service Award will be presented to Sharon Reynolds Ferland, the House Fiscal Advisor. Ms. Ferland joined the Fiscal Advisory Staff to the Rhode Island House of Representatives in 1997. In 2001, she was promoted to Deputy House Fiscal Advisor and became the House Fiscal Advisor in December 2009. During her tenure at the House Fiscal Office, Sharon has worked on a number of issues, including the school funding formula, restructuring of the state’s personal income tax system, and pension reform. In 2009, Ms. Ferland was the recipient of an NCSL National Association of Legislative Fiscal Offices Achievement Award. Ms. Ferland received her undergraduate degree in Political Science from the University of Rochester in 1990 and a Masters in Public Administration from the University of Rhode Island in 1995. The Chair of the Public Service Award Selection Committee, Paula Twidale said, “This year’s nominees are true examples of what it means to work in public service. We are proud to be able to honor them as a part of this year’s annual meeting.”
RIPEC’s 69th Annual Meeting will feature keynote speaker Jennifer Duffy, a native Rhode Islander and Senior Editor for The Cook Political Report, an independent, non-partisan newsletter that analyzes U.S. elections and campaigns, as well as American political trends. The New York Times has referred to The Cook Political Report as "a newsletter that both parties regard as authoritative", while Bob Schieffer of CBS News calls it “the bible of the political community”. See the full press release here.
Our report on the Economic Development Corporation was released today at 10am in the State Room at the State House. A PowerPoint summary of our findings and recommendations is available here and the full report is available here.
The Rhode Island Current Economic Indicator (CEI) for the second quarter of 2012 indicates Rhode Island’s economic growth slowed significantly over the first half of 2012. The leading CEI indicates that, at least in the short term, Rhode Island’s economic difficulties will continue. See the full press release here. The full briefing is available here.
RIPEC’s 69th Annual Meeting will be held at the Rhode Island Convention Center, starting with a reception at 5:30 PM. The keynote address will begin at 7:30. Remarks will also be made by Governor Lincoln D. Chafee and the legislative leadership. In keeping with tradition, RIPEC will recognize this year's recipients of the Distinguished Public Service Awards, and elect Council Officers, Directors and Trustees. See the full media alert.
According to a briefing released today by Bryant University’s Center for Global and Regional Economic Studies and the Rhode Island Public Expenditure Council (RIPEC), the CEI for the first quarter of 2012 increased 1 percent (annualized rate). Rhode Island’s economy continues to expand at a rate significantly slower than the regional and national average: The U.S. Gross Domestic Product increased at an annualized rate of 2.2 percent in the first quarter of 2012, and the New England economy expanded during the same quarter at an annualized rate of 3.3 percent. See the press release. See the briefing.
RIPEC will hold a forum, sponsored by Fidelity, on the state’s business climate. Key policymakers and stakeholders, from within Rhode Island and representing national organizations, will discuss how Rhode Island measures up on a number of metrics relating to the business climate, as well as steps the state can take to improve the perception that the state is not a good place to start or grow a business. See the media alert.
According to a briefing released today by Bryant University and the Rhode Island Public Expenditure Council (RIPEC), the CEI for the fourth quarter increased only 0.7 (annualized) – roughly the same increase seen in the third quarter and significantly lower than the 2.6 percent in the second quarter. In addition, projections show that the state’s economy will expand just 0.9 percent in the second quarter of 2012. A PDF of the report is available here.
The Rhode Island Current Economic Indicator (CEI) shows that the pace of the economic recovery slowed significantly in the third quarter of 2011, creating a dark cloud looming over future growth. According to a briefing released today by Bryant University and the Rhode Island Public Expenditure council, the CEI increased 0.9 percent (annualized rate). This is significantly lower than the 2.2 percent in the second quarter and much slower than projected in the 2011 Q2 Briefing. A .pdf of the briefing is available here.
We need the same spirit of unity today to meet this challenge. When Americans set aside their individual interests and pursue a common vision built around a thriving economy and a strong middle class there is nothing this country can't do. And nowhere does the spirit of shared responsibility offer greater promise than in the field of education. For America to move forward, our educational and political leadership must come together on behalf of children—speak openly and honestly about our educational challenges—and work together to solve them. Click here to read the full speech.
RIPEC will hold a forum on pensions, sponsored by Fidelity, which will focus on the challenges facing the state’s pension system and efforts at reform. Key policymakers and stakeholders will put the issue in context and discuss steps the state should take to ensure long-term sustainability and equity in the pension system. See the full media alert. See the full program.
As Rhode Island continues to implement far-reaching education reforms, and as the debate around the national reform agenda continues, Arne Duncan, Secretary of Education, will visit Rhode Island to deliver the keynote address at the 68th RIPEC Annual Meeting. Secretary Duncan, who has also served as the chief executive officer of Chicago Public Schools, will also speak at a town hall meeting prior to the RIPEC dinner. See the full press release.
Despite a significant slowdown in the U.S. economy in the first two quarters of 2011, Rhode Island sustained its economic recovery and expanded faster than the national economy. Moreover, the Rhode Island Leading Economic Indicator projects the economy will expand 2.2 percent (annualized rate) over the next two quarters. See the press release. See the briefing.
Two bills before the Senate and House today seek to change the status quo by mandating binding arbitration for school district employees in the event that contract negotiations reach an impasse. It is RIPEC’s position that binding arbitration would divert attention from the much-needed education reform that is currently occurring. See the press release.
It is widely recognized that the state’s current sales tax system does not receive high marks on national business climate or tax surveys, and that changes to the tax structure are necessary. Any changes, however, must be part of a thoughtful and deliberate process. The discussion about how best to move the state’s tax policy into the 21st century should be driven by policy – not the need for revenue. See the full press release.
The Rhode Island Current Economic Indicator for the first quarter of 2011 increased 1.9 percent (annualized rate). This rate is about the same rates observed in the third and fourth quarters of 2010 as illustrated in Figure 1 and Table 1. This suggests that the Rhode Island Economy has sustained a very much needed economic expansion over the last few quarters. See the briefing.
RIPEC will hold a forum on the State’s current business climate, sponsored by Fidelity, which will feature presentations from The Tax Foundation and the four gubernatorial candidates. The discussion will provide insight into how Rhode Island ranks vis a vis to the rest of the country and the methodology behind these rankings, and what the State can do to improve the perception that Rhode Island is not a good place to start and grow a business. Joseph Henchman from the Tax Foundation will discuss Rhode Island's business climate and the four gubernatorial candidates will respond. See the press release.
RIPEC to host forum on education: Key decision-makers will present their thoughts on the future of education in Rhode Island. See the media alert.
RIPEC's 67th Annual Meeting will be held Monday, October 4, 2010. The speaking program will begin at 6:30. Due to high interest, the event has been moved to the Rhode Island Convention Center, One Sabin Street, Providence RI. See the press release.
Ben S. Bernanke, Chairman of the Board of Governors of the Federal Reserve System will deliver the keynote address. U.S. Senator Jack Reed will introduce Chairman Bernanke. See the press release.