Rhode Island has been hit hard by the sub-prime mortgage crisis, the credit crunch triggered by the collapse of major financial institutions, and the resulting national recession. The economic crisis presents enormous challenges to our state and to the work of the Rhode Island Economic Development Corporation, but it also presents a rare opportunity to identify what works and what doesn’t and to take effective actions to rebuild and reinvigorate our economy.

RIEDC has already realigned its core job retention, creation and attraction programs in response to changing conditions. It has adopted a client-facing approach, reaching out to companies to discover what they need to create good jobs. It has streamlined its operations to focus on providing financing tools and workforce development, and expanded its role as a connector between businesses and the resources available to them.