Economic Activity
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EDC hires firms to study, market Warwick Station District
The R.I. Economic Development Corporation has hired Beta Group Inc. of Lincoln and (add)ventures of Providence to study and market the Warwick Station District near T.F. Green Airport in Warwick. more
Jobless claims in U.S. increased 38,000 last week to 368,000
Claims for U.S. unemployment benefits increased more than forecast last week, nearly erasing a slide in the prior two weeks and reflecting the difficulty of adjusting the figures for swings at the start of a year. more
RIPEC, EDC, GA form legislation-tracking partnership
The Rhode Island Public Expenditure Council and the R.I. Economic Development Corporation have established a collaborative partnership with the state’s General Assembly to build a legislative database as a resource for Rhode Island businesses. more
| 1/30/13
Wash Trust: record profit in ’12
Washington Trust Bancorp Inc., parent of The Washington Trust Co., posted record earnings of $35.1 million for 2012, an 18 percent increase in net income compared with $29.7 million in 2011. more
Port of Davisville sees third record year in 2012
The Port of Davisville at Quonset Business Park had its third consecutive record-breaking year, according to Gov. Lincoln D. Chafee, who joined state officials and local business leaders on Wednesday to announce the port’s success. more
| 1/30/13
Unemployment rate drops in Providence metro in December
Unemployment rates were lower in December in 290 of the nation’s 372 metropolitan areas, including the Providence-Fall River-Warwick metro area, according to non-seasonally adjusted data from the U.S. Bureau of Labor Statistics. more
| 1/30/13
MassBenchmarks: State economy grows ‘modestly’ in 4Q
Massachusetts’ real gross state product increased at a 1 percent annualized rate during the fourth quarter, according to the Current Economic Index released Tuesday by MassBenchmarks. more
| 1/30/13
Business formations, closures both rise in 2012
For the first time since 2006 to 2007, Rhode Island saw two consecutive years of business growth, as 7,121 new corporate entities registered in the Ocean State in 2012 after more than 6,800 new businesses filed in the Ocean State in 2011. more
| 1/30/13
Cornish tapped to convert Superman building to apartments
Cornish Associates has been hired to redevelop the Industrial Trust Tower at 111 Westminster St. in downtown Providence and turn the city’s tallest building into apartments. more
Fitch says U.S. debt-suspension removes risk of downgrade
Fitch Ratings said the temporary suspension of the U.S. debt limit removes the near-term risk to the nation’s AAA credit rating. more
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