Secrets of the Job Hunt


Thursday, February 05, 2009

Jobs in Rhode Island Could Increase by 13,000

As a result of the proposed federal stimulus bill, jobs in Rhode Island are on the verge of drastically increasing. As part of the 3 to 4 million jobs the bill promises, 13,000 will be in Rhode Island.

In December, the state's unemployment rate rose to 10 percent. This is the highest in 30 years. According to The Providence Journal, 26,600 workers were unemployed from December 2007 to December 2008. These new jobs could be seen as soon as this coming year through public works projects.

Rhode Island Governor Don Carcieri is displeased with the President's stimulus plan. According to an article by Forbes, he feels that the plan will not create jobs quickly enough. Also, it doesn't contain enough tax cuts.

The state isn't waiting for the national government's help. They are doing what they can to change their own economy, including creating a panel to help. "Carcieri formed the panel in May, urging it to recommend a long-term tax strategy 'designed to make Rhode Island's tax structure a competitive advantage in retaining jobs and recruiting businesses,'" the article notes.

On February 4th, the state's tax-reform panel proposed a stop to state corporate income tax. In doing so, this would save businesses $82 million, help jump start the economy and create new jobs.

According to Alfred J. Verrecchia, panel member, "Scrapping the corporate income tax would signal that Rhode Island is an appealing place to do business for companies that are already in the state and others that want to move to the state".

The panel still needs to complete a final, written report before the proposal can be given to the governor.

With all the efforts being made to bring new jobs to Rhode Island, its citizens may have sometihng good to look forward to after all.