Chafee Unveils Vision for Economic Development

Chafee Unveils Vision for Economic Development

Governor Lincoln Chafee yesterday presided over his first meeting as chairman of the board of directors for the Economic Development Corporation, using the event as an opportunity to briefly outline his vision for economic development.

“I believe Rhode Island is poised for economic recovery and job growth…but only if the RIEDC focuses on leveraging our existing assets, supporting our existing businesses and stimulating ‘Main Street’ economic development, especially in our financially challenged communities,” Chafee said.

At the meeting, Chafee’s Director of Community Relations, Doris M. De Los Santos, outlined an economic development initiative to strengthen the state’s cities and urban communities. According to a news release, the plan includes:
■ better access to investment capital for small businesses
■ coordinated access to and development of effective business development resources
■ identification of the most promising industry growth sectors
■ re-branding of Rhode Island cities as places to start, grow, and relocate a business
■ identification of the urban communities most in need of revitalization
■ establishing workforce training and career education pathways

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

“Governor Chafee began to lay the foundation for two of his economic priorities which align with current RIEDC initiatives and programs,” said Keith Stokes, executive director of the EDC. “The Governor and I are working with the board and our public and private sector economic development partners to develop a strategic plan to encourage the success of small businesses and urban communities while building on our existing economic assets to stimulate a new era of job creation and economic growth for all Rhode Islanders.”

Changes in the board

Chafee will also will get to shape economic development policies through appointments to a number of impending vacancies on the board. According to EDC spokeswoman Melissa Chambers, the following three positions expire on Feb. 1:

• Donna C. Cupelo, Regional President New England, Verizon Communications
• Paul Choquette, Vice-Chairman, Gilbane, Inc.
• Shivan Subramaniam, Chairman & CEO, FM Global

Plus, last week, vice chairman Al Verrecchia, the former CEO of Hasbro, offered to resign.

So far, there have been no announcements about any replacements.

“The Governor is reviewing candidates for replacement, and although he has not reached a final decision he is focusing on candidates with the relevant experience and who share his vision for economic development in Rhode Island,” said Chafee spokesman Christian Vareika.