'Putting Providence Back to Work' report presents roadmap to improve the business climate, infrastructure and human capital in Rhode Island's Capital City.
Mayor Angel Taveras today announced a 20-step economic development action plan to put Providence residents back to work and jumpstart the economy of Rhode Island's Capital City.
The Mayor said that Providence's economy must be built on the success of a broad range of industries and sectors, and pledged swift action to improve Providence's business climate, infrastructure and human capital.
"When we work together, we can compete head to head with any city or state in this country," said Mayor Taveras. "Nothing will change minds about Providence as much as continuing our track record of success."
The Mayor outlined five immediate steps his administration will pursue to support and grow Providence's economy:
Other actions outlined in Mayor Taveras' 22-page economic development plan include providing targeted, operational support to small businesses, and reimbursing main street businesses in every neighborhood for their storefront improvements.
The City will also work with Providence's community development organizations to rehabilitate foreclosed properties and create an up-to-date database of properties across Providence that are available for development.
Mayor Taveras also announced he will launch a regional marketing campaign that invites visitors to "Come to Providence" and enjoy the City's acclaimed restaurants, museums, parks, zoo, festivals, theaters, shops and arts events.
"This action plan presents a roadmap to a new era of opportunity and prosperity for Providence. I am excited to work with my team to implement these actions and accelerate economic growth in our City," said James Bennett, Providence's Director of Economic Development.
Since taking office in January, 2011, Mayor Taveras has worked with the City's labor unions, retirees, tax-exempt organizations and other stakeholders throughout Rhode Island to successfully tackle a $110 million budget deficit. Next month, Providence is scheduled to complete a municipal pension reform that has been described an unprecedented example for other cities to follow.
"Through hard work and shared sacrifice, we have saved Providence from collapse and built a solid fiscal foundation upon which we are ready to grow our City's economy," Mayor Taveras said.
The Mayor unveiled his economic development plan at a special trustee meeting of The Providence Foundation attended by more than 120 leaders from Providence's business community, educational and health care institutions and community groups. The meeting was held at Brown University's Institute for Computational and Experimental Research in Mathematics (ICERM).