Head of RI Black Business Association Rips Raimondo and Commerce for Lack of Support
GoLocalProv Business Team
Head of RI Black Business Association Rips Raimondo and Commerce for Lack of Support
"The Governor has been talking a lot about small business development here in Rhode Island, but as President of Rhode Island Black Business Association, our organization has yet to see any significant investment to advance Black Business development in our State. The $100k grant from Rhode Island Commerce Corp, while it is appreciative is not enough to build capacity. $1MM is a step in the right direction. Millions of dollars have gone to large corporations, we demand more for Small Businesses and Black Businesses must be included as a priority in the strategy for growth/Job Creation. Black Businesses create jobs too!!," wrote Ranglin.
Ranglin has been one of the most vocal advocates for small businesses in Rhode Island. Despite the lack of state support, Ranglin cited how her organization is working with minority-owned businesses despite the lack of support.
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RIBBA Results: RIBBA MICRO-LENDING INITIATIVE
"In 2017, our client businesses experienced rapid growth in revenues created over 50 new jobs. Through our new Micro-lending Initiative, through this initiative, we will continue to increase the profitability and job creation capabilities of black-owned and minority-owned businesses. As we reach larger numbers of small businesses, the impact of carefully structured technical assistance coupled with increased access to capital is expected to begin to have an observable impact on minority-owned micro-businesses in Rhode Island," reports Ranglin.
"We are confident that our innovative loan products and customized technical assistance will stimulate more small minority businesses to experience rapid growth and to create more jobs," said Ranglin.
Who is Getting Money from Commerce - May, 2017
Project Name: A.T. Cross
Rhode Island Company
Estimated Qualified Jobs Incentive Tax Credits: $1,232,499
Qualified Jobs: 35
Project Name: Ivory Ella
Moved from CT to RI
Estimated Qualified Jobs Incentive Tax Credits: $362,055
Qualified Jobs: 30
Project Name: Trade Area Systems
Moved from MA to RI
Estimated Qualified Jobs Incentive Tax Credits: $521,507
Qualified Jobs: 28
Project Name: Greystone
Rhode Island Company
Estimated Qualified Jobs Incentive Tax Credits: $459,718
Qualified Jobs: 25
Project Name: Ocean State Job Lot
Rhode Island Company
Estimated Qualified Jobs Incentive Tax Credits: $3,230,190
Qualified Jobs: 125
Project Name: Finlay
United Kingdom Company
Estimated Qualified Jobs Incentive Tax Credits: $1,354,105
Qualified Jobs: 73
Project Name: GE Digital
Massachusetts Company
Estimated Qualified Jobs Incentive Tax Credits: $4,591,700
Qualified Jobs: 85 (100)*
*to date GE has only committed to 85 jobs
Project Name: Lexington Lighting
MA moved to RI
Estimated Qualified Jobs Incentive Tax Credits: $219,225
Qualified Jobs: 24
Project Name: Granite Telecommunications
Massachusetts Company
Estimated Qualified Jobs Incentive Tax Credits: $779,464
Qualified Jobs: 50
Project Name: Virgin Pulse
United Kingdom Company
Estimated Qualified Jobs Incentive Tax Credits: $2,501,073
Qualified Jobs: 292
Project Name: Surplus Solutions
RI Company
Estimated Qualified Jobs Incentive Tax Credits: $454,681
Qualified Jobs: 16
Project Name: Johnson & Johnson
New Jersey Company
Estimated Qualified Jobs Incentive Tax Credits: $4,425,860
Qualified Jobs: 75
75
Project Name: Whiting & Davis
RI Company
Estimated Qualified Jobs Incentive Tax Credits: $255,221
Qualified Jobs: 15
Project Name: UNFI
RI Company
Estimated Qualified Jobs Incentive Tax Credits: $1,873,805
Qualified Jobs: 150
Project Name: Agoda
Connecticut Company
Estimated Qualified Jobs Incentive Tax Credits: $3,039,394
Qualified Jobs: 200
Project Name: eMoney
Pennsylvania Company
Estimated Qualified Jobs Incentive Tax Credits: $3,162,196
Qualified Jobs: 100
VistaPrint Corporate Solutions*
Dutch Company
Estimated Qualified Jobs Incentive Tax Credits: $2,244,546
Qualified Jobs: 125
