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. The full report is available here.
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.
“This report offers substantial recommendations to change how Rhode
Island is ranked in national business-competitiveness surveys,” said
President Paiva Weed. “The economy is the Senate’s priority, and will be
the Senate’s focus this session.”
She continued, “Successfully moving the needle and improving the
business climate will require a sustained, cooperative partnership. Just
as this report was a partnership between the Senate and RIPEC, our
economic development efforts must be a collaborative effort that
includes the voices of the Senate, the House, the Governor and his
administration, the non-profit sector, academia, and the business
community. Working together, we will make Rhode Island more attractive
to entrepreneurs, improve our image within our state and outside our
borders, and help companies that are here to grow and create jobs.”
In the fall, President Paiva Weed directed the Senate Policy Office to
examine the metrics that are looked at by those who produce such
surveys, such as CNBC, Forbes Magazine, and the Tax Foundation, and to
make recommendations on how to improve Rhode Island’s rankings. When it
was learned RIPEC was working on a similar project, it was decided to
combine efforts.
Mr. Simmons observed, “Not only does ‘Moving the Needle’ contribute to
the discussion by providing baseline measures of economic performance,
it also details specific action items for reform. Perhaps more
importantly, it can be used as a tool to evaluate legislation, as one of
the ways bills should be evaluated is by whether or not they have a
positive effect on these types of indicators.”
The findings will be the basis for major legislative initiatives this
session, since the Senate believes the General Assembly’s priority and
focus at this time must be on the economy.
“This benchmark is a huge development in understanding the factors
driving or impeding Rhode Island’s growth agenda,” said Laurie White,
president of the Greater Providence Chamber of Commerce. “The report is
validation of the true link that exists between the legislative process
and our ability to grow the jobs base. It is a monumental step forward
in how we evaluate, prioritize and measure economic policy initiatives.
We applaud the Senate President for her work on this project and look
forward to continued collaboration.”
The report established benchmarks and statistical baselines based on
current conditions in several areas: the economy, workforce and
education, transportation and infrastructure, cost of doing business,
and quality of life. The indicators use independent data that has been
deemed fundamental to an economically competitive state by national
ranking bodies and site selection services. The report calls for an
annual review of Rhode Island’s standing on the particular benchmarks to
determine progress.
“Moving the needle begins with an honest assessment of what we do well
and what we do poorly, and concerted, cooperative efforts to build on
our strengths and improve on our weaknesses,” said Senate President
Paiva Weed. “We are taking a frank and candid look at the factors that
impact the state’s economy and laying the foundation for significant
action, legislative and otherwise, to improve Rhode Island’s business
climate.”