46.9 billion USD (2007)
Rhode Island's GDP. Pre-global economic collapse. But, the housing bubble was underway, though. Rhode Island has a very important level of stability in sustaining a business and employee base.
Rhode Island's Largest Employers (click here) This page provides a link to the companies employee openings postings.
General Dynamics - Electric Boat (click here) - the past, present and future of submarines.
This is federal money and Rhode Island can't live up to it's pensions? Really.
Quonset Point Facility
165 Dillabur Avenue
North Kingstown, RI 02852-1009
Initially established (click here) in 1973 to provide off-site support to Electric Boat’s Groton shipyard, the 125+ acre Quonset Point facility is widely recognized for its manufacturing, outfitting, and modular-construction capabilities.
Through the development of unique construction technologies that maximize the workforce’s multifaceted skills over a wide range of industrial projects, Quonset Point has contributed to a revolution in submarine construction and developed a reputation as the crown jewel of the U.S. submarine industrial base.
Newport Engineering Office
2 Corporate Place
Middletown, RI 02842
I am quite confident General Dynamics is very proud of their employees, their facilities and the fact everyone within reach of their business model does well in the community.
I am sure there are many companies in Rhode Island proud of their place in the state and the idea everyone is doing well. Providence has some of the most progressive art communities in the country. In all this wonderful infrastructure and tax base, I would think the business community of Rhode Island should be alarmed the state hasn't managed their pension funds well and now there seems to be failure. I'll go so far as to say, there needs to be an investigation to the mismanagement of those pension funds.
I strongly suggest the State Treasurer plot a new path forward to return vibrancy to the pension funds and a method to make them whole. Considering how Rhode Island has stability, if I were a Rhode Island taxpayer I would want to know what happened here and why. 2008 didn't hit Rhode Island that badly.
In the January 15, 2014 Executive Summary (click here) of the Governor he notes there is a $150 million deficit. Are you serious about these pension monies? $150 million isn't even one percent of the 2007 GDP. As a matter of fact it is 0.3 percent of Rhode Island's GDP from 2007.
In fact, over the past three years, we have invested over $108.2 million in general revenue in the school aid formula and its categorical aid programs. My FY 2015 Recommended Budget adds another $37.9 million in direct school support.
The state is not hurting for budgetary funds.You mean to tell me the teachers within this educational system have to dissolve their pension funds to keep the state afloat. That is blatant lie and the entire mess is nothing more than politics. Someone needs to figure out what the State Treasurer's motivation is, because, is sure isn't the truth.
If I were a union leader, I would make it my business to ask for a general meeting of all union officials with the Governor and he can leave the state treasurer at the office working hard to resolve the misdirection of her attack on the pension funds.
I am sure Governor Chafee is a wonderful governor with his focus on keeping Rhode Island one of the best states to live in. A full one third of the Rhode Island budget is federal dollars. I am surprised pension funds are even considered questionable.
Tax cuts and the state can't make it's pension obligations? Isn't that rather peculiar? Rhode Island has pension obligations. OBLIGATIONS. When Rhode Island entered into promises regarding pension considerations, there was no small print stating, but, in a few years the pensioners can lose everything while the state cuts taxes for Wall Street.
PROVIDENCE, R.I. — Governor Chafee (click here) proposed a new $8.5-billion budget Wednesday that would set the stage for cutting the state’s 9-percent corporate tax rate to 6 percent, freeze state college tuitions and pump hundreds of millions of dollars into new, legacy-building public works projects, including the repair or replacement of 834 bridges....
All that infrastructure monies is going to private companies. Of that I am fairly sure. If the state is willing to put all those monies into infrastructure I find it odd a tax cut of 3 percent would be prudent. There are always cost overruns. Always.
I tell you what. A one percent tax cut seems appropriate to provide incentive to businesses that more may be on the way in the future. Another one percent can go into a trust fund for any cost overruns of private industries doing state work. And finally, one percent can go toward restoring the pensions for years to come. THEN, when all the contracts are complete and the pension funds are making money with proper and transparent investment, the rest of the tax cuts can go forward to the corporate community in Rhode Island. It sounds like a reasonable plan to me.
Rhode Island's GDP. Pre-global economic collapse. But, the housing bubble was underway, though. Rhode Island has a very important level of stability in sustaining a business and employee base.
Rhode Island's Largest Employers (click here) This page provides a link to the companies employee openings postings.
This is federal money and Rhode Island can't live up to it's pensions? Really.
Quonset Point Facility
165 Dillabur Avenue
North Kingstown, RI 02852-1009
Initially established (click here) in 1973 to provide off-site support to Electric Boat’s Groton shipyard, the 125+ acre Quonset Point facility is widely recognized for its manufacturing, outfitting, and modular-construction capabilities.
Through the development of unique construction technologies that maximize the workforce’s multifaceted skills over a wide range of industrial projects, Quonset Point has contributed to a revolution in submarine construction and developed a reputation as the crown jewel of the U.S. submarine industrial base.
Newport Engineering Office
2 Corporate Place
Middletown, RI 02842
I am quite confident General Dynamics is very proud of their employees, their facilities and the fact everyone within reach of their business model does well in the community.
I am sure there are many companies in Rhode Island proud of their place in the state and the idea everyone is doing well. Providence has some of the most progressive art communities in the country. In all this wonderful infrastructure and tax base, I would think the business community of Rhode Island should be alarmed the state hasn't managed their pension funds well and now there seems to be failure. I'll go so far as to say, there needs to be an investigation to the mismanagement of those pension funds.
I strongly suggest the State Treasurer plot a new path forward to return vibrancy to the pension funds and a method to make them whole. Considering how Rhode Island has stability, if I were a Rhode Island taxpayer I would want to know what happened here and why. 2008 didn't hit Rhode Island that badly.
In the January 15, 2014 Executive Summary (click here) of the Governor he notes there is a $150 million deficit. Are you serious about these pension monies? $150 million isn't even one percent of the 2007 GDP. As a matter of fact it is 0.3 percent of Rhode Island's GDP from 2007.
In fact, over the past three years, we have invested over $108.2 million in general revenue in the school aid formula and its categorical aid programs. My FY 2015 Recommended Budget adds another $37.9 million in direct school support.
The state is not hurting for budgetary funds.You mean to tell me the teachers within this educational system have to dissolve their pension funds to keep the state afloat. That is blatant lie and the entire mess is nothing more than politics. Someone needs to figure out what the State Treasurer's motivation is, because, is sure isn't the truth.
If I were a union leader, I would make it my business to ask for a general meeting of all union officials with the Governor and he can leave the state treasurer at the office working hard to resolve the misdirection of her attack on the pension funds.
I am sure Governor Chafee is a wonderful governor with his focus on keeping Rhode Island one of the best states to live in. A full one third of the Rhode Island budget is federal dollars. I am surprised pension funds are even considered questionable. Tax cuts and the state can't make it's pension obligations? Isn't that rather peculiar? Rhode Island has pension obligations. OBLIGATIONS. When Rhode Island entered into promises regarding pension considerations, there was no small print stating, but, in a few years the pensioners can lose everything while the state cuts taxes for Wall Street.
PROVIDENCE, R.I. — Governor Chafee (click here) proposed a new $8.5-billion budget Wednesday that would set the stage for cutting the state’s 9-percent corporate tax rate to 6 percent, freeze state college tuitions and pump hundreds of millions of dollars into new, legacy-building public works projects, including the repair or replacement of 834 bridges....
All that infrastructure monies is going to private companies. Of that I am fairly sure. If the state is willing to put all those monies into infrastructure I find it odd a tax cut of 3 percent would be prudent. There are always cost overruns. Always.
I tell you what. A one percent tax cut seems appropriate to provide incentive to businesses that more may be on the way in the future. Another one percent can go into a trust fund for any cost overruns of private industries doing state work. And finally, one percent can go toward restoring the pensions for years to come. THEN, when all the contracts are complete and the pension funds are making money with proper and transparent investment, the rest of the tax cuts can go forward to the corporate community in Rhode Island. It sounds like a reasonable plan to me.
