Economic Development
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Payrolls in U.S. increase less than forecast in August
Payrolls rose less than projected in August and the unemployment rate was unexpectedly driven down by Americans leaving the labor force, boosting the odds of additional Federal Reserve easing to spur a faltering recovery. more
Stokes joins Mayforth Group
Former R.I. Economic Development Corporation Executive Director Keith W. Stokes has joined The Mayforth Group, the Providence-based consulting firm announced Wednesday. more
| 9/5/12
U.S. stocks fall as report shows manufacturing shrank in August
U.S. stocks fell, following a two- week decline in the Standard & Poor’s 500 Index, as data showed American manufacturing contracted in August, fueling concern the economic recovery is slowing. more
Beige Book: New England growth ‘continues to disappoint’
During June and July, economic growth in the New England region “continued to disappoint” as employment growth faltered and the region lost 2,500 jobs in June alone, according to the Beige Book report from the Federal Reserve Bank of Boston. more
EDC forms ‘litigation subcommittee’ to oversee 38 Studios lawsuits
A three-member “litigation subcommittee” was created by the R.I. Economic Development Corporation Board of Directors Monday night to oversee legal efforts to recover taxpayer funds lost from the failure of 38 Studios LLC. more
EDC grants $1M loan guarantee to eNow Inc.
The R.I. Economic Development Corporation has guaranteed a $1 million loan to eNow Inc., an expanding Providence company that makes solar power systems for trucks. more
Six-month export growth benefits R.I. companies
Rhode Island merchandise exports increased 9 percent during the first half of 2012 compared with the same period in 2011, growing from $1.1 billion to $1.2 billion, according to data released by the International Trade Administration. more
| 8/27/12
Cape Wind chooses Falmouth as base of operations
Cape Wind Associates plans to base its wind farm operations in Falmouth, Mass., reported the Boston Business Journal. more
| 8/23/12
Treasuries gain as equities slump on signs global growth slowing
Treasuries rose for a fourth day as global equities slumped after Japanese trade figures fell short of economists’ forecasts, reinforcing concern that Europe’s debt crisis and a slowdown in China are damping global growth. more
Report: R.I. economic recovery is slowing
The Rhode Island Current Economic Indicator for the second quarter of 2012 grew 0.4 percent, indicating that the Ocean State’s economic growth has slowed significantly in the first half of 2012, according to a report by Bryant University and the Rhode Island Public Expenditure Council. more
| 8/15/12
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