RIHEBC issues $5B for R.I. construction projects

ACCORDING TO an R.I. Health and Educational Building Corp. report released last week, RIHEBC this year issued more than $5 billion for construction projects throughout the state.
ACCORDING TO an R.I. Health and Educational Building Corp. report released last week, RIHEBC this year issued more than $5 billion for construction projects throughout the state.

PROVIDENCE – The R.I. Health and Educational Building Corp. last week released a report detailing the financial entity’s impact in Rhode Island over the last five decades.
Celebrating its 50th anniversary, the quasi-governmental entity – which helps provide financing to eligible institutions in the fields of education and health care – says it has issued more than $5 billion for construction projects throughout the state.
“The education and health sectors together make up Rhode Island’s largest employment sector, accounting for 22 percent of employment,” said Robert Donovan, executive director. “Even during challenging economic times when traditional financing options are slim, we have proudly supported many large and small institutions in our state that Rhode Islanders rely on for health care, education and jobs every day.”
RIHEBC offers financing support for various projects, including higher-education classrooms and dorms, traditional and charter public school facilities and projects, acute care, critical access, children’s hospitals and more.
The organization estimates its financing each year – on average – creates 1,376 jobs, $115 million in gross domestic product and $80 million in labor income.
A full report can be found HERE.

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