Caprio Says He Saves States Millions by Moving Treasury Office

Caprio Says He Saves States Millions by Moving Treasury Office

Democratic candidate for governor Frank Caprio yesterday said he had saved the state about $4 million over 10 years by moving the Office of the General Treasurer from its downtown Providence location to a vacant state building in Warwick.

While some staff are located in the Statehouse, the bulk of them currently work at 40 Fountain Street in downtown Providence—space that the state leases. Caprio’s campaign said the total cost of rent and other expenses was about $620,000 a year. The office expenses at the new location—50 Service Avenue in Warwick—will be one seventh of what they are now.

“As Treasurer, Frank Caprio has a record of coming in under budget and continually reducing the cost of doing business in Treasury,” said spokesman Nick Hemond. “This is another area of wasteful spending he will cut as Governor.”

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Caprio made the announcement yesterday just hours before independent candidate for governor Lincoln Chafee unveiled his own plan to move state staff out of leased space and into vacant buildings owned by the state.