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Rhode Island Economic Development Coorporation history
Rhode Island Economic Development Coorporation company history timeline
His comments came as Almond, in his first year in office, pushed through legislation to create a streamlined EDC from the old Rhode Island Department of Economic Development, created in 1974 as an arm of the Rhode Island Port Authority.
In 2001, Swen’s successor, Tom Schumpert, trumpeted a new attention to local companies, sending EDC loan officers out to meet with small businesses and pushing for “sustainable economic development.”
The agency’s budget has been cut by nearly 40 percent since 2008, to about $4 million.
The only discussions at the State House came at budget time, he says, when the legislature would tweak the EDC’s budget and, as the economy cratered in 2008, cut its already underfunded development programs rather than beefing them up.
In December 2009, the EDC’s board voted unanimously to hire the panel’s top choice, Ioanna T. Morfessis of Arizona, who had led successful economic-development efforts in Baltimore and Phoenix.
That dysfunction continued when Governor Chafee took office in 2011.
They projected $1.9 million in sales for 2012.
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Rhode Island Economic Development Coorporation may also be known as or be related to Rhode Island Economic Development Coorporation and Rhode Island Economic Development Corp.