Eva Marie Mancuso: 4 Education, 4 Jobs, 4 Rhode Island’s Future: Vote Yes on 4
Guest MINDSETTER™ Eva Marie Mancuso
Eva Marie Mancuso: 4 Education, 4 Jobs, 4 Rhode Island’s Future: Vote Yes on 4
At every level and from every angle we are striving to turn out a stronger, much-improved “finished product” – graduates of not only our K-12 schools, but also our colleges and universities. It is clear we have no choice if we are to remain viable. Our graduates must be prepared for the jobs of the 21st century.
One of the most compelling success stories we tell in Rhode Island education is the story of the College of Engineering at the University of Rhode Island, a critical component in rebuilding the state’s economy. College of Engineering grads are in demand and they are quickly hired by some of the state’s top firms in the defense, manufacturing, research, biomedical, and service industries. Ninety percent of the engineering class of 2013 were employed or in graduate school only six months after graduation. Average national starting salaries for engineers range from $52,048 to $83,181.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThat is why I am so excited about Question 4 on the November 4 ballot. Approval of $125 million for higher education facilities – in this case, a new engineering complex at the state’s flagship research university, URI – will go a long way toward addressing the persistent skills gap. But there is much more to this bond referendum than a state-of-the-art building and upgraded classrooms and laboratories in Kingston.
Today, the College of Engineering generates $142 million in Rhode Island gross product annually. The bond referendum asks us to approve 12 percent less than this for a three-year construction project that will have a significant multiplier effect on the state’s economy, especially in terms of job creation. New facilities for the College of Engineering will translate into more than 2,600 jobs in the construction and building trades and in research and teaching, with approximately 1,500 construction and professional service jobs created immediately, according to a recent economic impact study.
It is true that URI has seen enjoyed success with its current facilities. More than 750 Rhode Island companies employ more than 4,000 URI engineering alumni. More than 28 firms have been founded in Rhode Island by URI engineering alumni and faculty. College of Engineering award-winning faculty bring millions of research dollars into our state. They work on important projects and issues, like clean water and alternative energy sources. Their discoveries lead to patents – more than 70 in the past decade alone.
But with a 39 percent increase in enrollment since 2003 and a total of 1,300 undergraduates and 250 graduate students, the facilities are bursting at the seams. There have been no upgrades since 1963!
President Dooley has said the new College of Engineering is the University’s – and the state’s – most critical need. As URI is able to graduate more engineers, Rhode Island companies will hire them, stemming the state’s brain drain. And as new engineers are hired, they will in turn help these companies become even more successful, enabling them to expand and add jobs, not only in engineering, but also in other disciplines.
The General Assembly, Governor Chafee, the Greater Providence Chamber of Commerce, the Rhode Island Building and Construction Trades Council, the Rhode Island Manufacturers Association, the Southeastern New England Defense Industry Alliance, and more than 30 companies that employ URI engineering graduates all support this bond. They understand that Rhode Island must seize this opportunity now, in order to ensure our children’s bright future.
I urge you to visit http://engineering4ri.com/ for more information and stories of College of Engineering innovation and success. And I encourage you to vote yes on 4.
Eva Marie Mancuso is Chair of the Rhode Island Board of Education.
RI Business Rankings in US
WalletHub
Rhode Island has 2015's eighth highest insurance premium penalties for high risk drivers, according to a WalletHub report.
Rhode Island ranks fifth overall in the category of speeding over 20 mph annual premium increase at $482. While ranking third overall in the category of 2 accidents annual premium increase at $2,721.
Rhode Island ranks ninth overall under the reckless driving annual premium increase at $749.
WalletHub
Rhode Island has been ranked as the 8th most eco-friendly state in the country, according to a recent study by WalletHub.
Rhode Island ranks third in environmental quality and 16th in Eco-Friendly Behaviors Ran landing them in 8th overall.
RI is behind Washington and New Hampshire who are in the six and seven spots respectively, and in front of Connecticut and Hawaii who come in at the nine and ten spot.
WalletHub
Rhode Island is 2015's 4th Worst State to be a taxpayer, according to a recent WalletHub report.
Rhode Island ranks 48th of 51 with an average state and local tax price of $7,159 which is good for a 27% difference from the national average.
The states that are directly behind Rhode Island are Wisconsin at $7,159, Nebraska at $7,298 and Illinois at $7,719 for a 37% difference from the national average.
WalletHub
Rhode Island has the highest vehicle property taxes in the country, paying an average of $1,133 according to a report from WalletHub.
Virginia and Kansas are the two states just ahead of Rhode Island in the 49 and 50 spots, paying $962 and $905 respectively.
RI also ranks 42nd in average real estate tax, paying an average of $2,779, according to the WalletHub report.
WalletHub
WalletHub has ranked Rhode Island as the 7th worst state to be rich in in a recent in depth analysis of 2015's Best States to be Rich or Poor From a Tax Perspective.
On a scale with 1 being the best, and 25 being average, Rhode Island ranks 37th in low income earners, 42 in middle income earners and 45th in high income earners.
To see the full report, click here.
Gallup
Providence-metro ranks at the bottom for job creation in 2014
Rhode Island has been ranked amongst the worst in job creation, according to a recent survey done by Gallup.
Gallup gives the Prov-metro area an index score of 23, the lowest score is the New York- New Jersey area with 20.
Salt Lake City, Utah and Austin-round Rock, Texas rank the highest with a score of 37.
See the rest of the rankings here.
Forbes
The 2014 state rankings by Forbes has just been released and Rhode Island moved up two spots from #48 in 2013 to #46 in 2014.
What does Forbes say about RI's business environment"
After Michigan and Illinois, Rhode Island has experienced the third worst net migration out of its state in the country over the past five years. With a recent unemployment rate of 7.6%—lower than only Georgia and Mississippi—residents are leaving the state in search of jobs. Rhode Island has been stuck in the bottom five overall for six straight years. One plus: labor costs are 5% below the national average, which stands out in the expensive Northeast.
Tax Foundation
Findings from The State Business Tax Climate Index were released this morning by Tax Foundation which found Rhode Island to have the 45th best tax climate for businesses for 2015. The state's rank has not changed since last year after The Index analyzed 100 different tax variables in multiple categories.
Read more about the report here
WalletHub
After conducting an online suvery consisting of 1,050 individuals from both parties across the nation, WalletHub ranked Rhode Island as having America's 33rd fairest tax system.
Click here to view the poll's entire findings
Thumbtack/Kauffman
Providence is the second worst city in America for small business, according to a new survey conducted by Thumbtack.com and the Kauffman Foundation.
More than 12,000 small businesses in 82 cities across the country participate in the survey. Providence received an overall "F" grade for small business friendliness.
The Economist
Small Business Friendliness Grade: F
The Economist grades states on an A+ to F grading scale for its small business climate. Rhode Island is one of just 6 states to earn an "F" grade.
Overbearing bureaucracy and excessive licensing is stifling small business in America.
Read More About The Economist Grade Here
CNBC
CNBC ranks each state in cost of doing business, economy, technology and innovation.
Rhode Island's unemployment rate as of May 2014 was 8.2 percent. This is RI's lowest unemployment rate since August 2008.
Read More About CNBC Ranking Here
Forbes
Forbes ranks each state in business costs, economic climate, and growth prospects. RI is third worst in 2013.
The most damning in the commentary:
After Michigan, Rhode Island has experienced the second worst net migration in the country over the past five years.
Read More About Forbes Ranking Here
ChiefExecutive.net
#39 ChiefExecutive.net
ChiefExecutive.net ranks each state in taxations and regulations, workforce quality, and living environment.
The most damning in the commentary:
Sky-high unemployment rate bespeaks continuing terrible business climate.
Read More About ChiefExecutive.net Ranking Here
Tax Foundation
#46 Tax Foundation
Tax Foundation ranks each state in corporate tax rank, sales tax rank, and unemployment insurance tax rank.
Rhode Island and the other states in the bottom ten suffer from the same afflictions: complex, non-neutral taxes with comparatively high rates.
Read More About Tax Foundation Ranking Here
Wallet Hub
#24 Wallet Hub
Wallet Hub ranks each state in ROI rank, state tax rank, and overall government services.
Rhode Island ranked #50 for worst roads and bridges, but ranked #4 in safety.
Read More About Wallet Hub Ranking Here
ALEC
#47 ALEC
ALEC ranks each state in economic performance and outlook.
Although Rhode Island ranked low in economic performance, a forward-looking forecast is based on the state’s standing in 15 important state policy variables. Some of these variables include top marginal personal income tax rate and sales tax burden.
Read More About ALEC Ranking Here
Kauffman Foundation
#50 Kauffman Foundation
Kauffman Foundation ranks each state in entrepreneurship.
Entrepreneurial activity generally is highest in Western and Southern states
and lowest in Midwestern and Northeastern states.
Read More About Kauffman Ranking Here
Free Enterprise
#47 Free Enterprise
Free Enterprise ranks each state in performance, exports, innovation + entrepreneurship, business climate, talent pipeline, infrastructure.
Rhode Island has continued to feel the direct impact and ripples from the recent recession—it ranks 47th overall in economic performance. However, positive rankings of 15th in talent pipeline and 16th in innovation and entrepreneurship suggest the existence of a foundation on which to build the future.
Read More About Free Enterprise Ranking Here
The Pew Charitable Trusts
#40 The Pew Charitable Trusts
The Pew Charitable Trusts ranks each state in job growth and job creation.
Rhode Island added 6,223 jobs in 2014.
Read More About The Pew Charitable Trusts Ranking Here
Gallup
10th Worst in Gallup's Annual Ranking of State Job Markets 2014
Rhode Island has been ranked 10th worst for job creation in Gallup's annual ranking of state job markets in 2014 with a job creation index number of 21
Rhode Island is one of two (Connecticut) states to rank in the bottom ten each year since 2008.
The 2014 State level findings have were drawn from 201,254 interviews with employed adults across the nation.
See the full list of rankings here.
