Governors's budget keeps economic development programs
Carcieri’s proposal keeps funding for Slater, STAC, and EDC intact
Full Story: No cuts for EDC in state budget Source: Providence Journal, February 5th, 2008 Added on February 5th, 2008 at 9:46 am, by Judy He
Governor Carcieri’s proposed budget for the next fiscal year keeps intact the state Economic Development Corporation’s key programs, according to a summary released by the governor’s office. Carcieri’s spending plan would give The Slater Technology Fund, a taxpayer-backed source of venture capital, $3 million, the same amount it received this year. If approved by the General Assembly, the Rhode Island Science and Technology Advisory Council would also see no cut to its $100,000 operating budget. The EDC would again receive $6.2 million, although it would become responsible for the $300,000 annual staff expenses of the Rhode Island Economic Policy Council, an advisory group made up of leading business, academic and political figures. There is no guarantee, however, that Carcieri’s economic development agenda will enjoy legislative support. Last year, lawmakers did not approve the EDC’s request to borrow $28.5 million to finance a statewide wireless network, or to spend $600,000 for the construction of an information-technology and digital-media center to aid entrepreneurs.
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