opinion

Is the R.I. Economic Development Corporation an effective job creation tool?

Posted 10/2/11

The R.I. Economic Development Corporation claims that it helped create or retain at least 4,686 jobs in the region in its fiscal 2011 performance report, thanks to its efforts to access to capital, technical support, work force development, and expansion and relocation assistance.

In addition, the EDC said that it helped local companies invest more than $162 million in capital projects, as well as help create nearly 1,000 jobs through the state’s tax incentive programs.

Are these the kinds of measures that the EDC should be judged on? Or should it be more concerned with creating an environment for the free market to allocate resources that create jobs and elicit investment?

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