As a result of the Stimulus Bill that passed last week, Rhode Island jobs are on the verge of drastically increasing. As part of the 3 to 4 millions jobs the bill promises, 13000 will be in Rhode Island.
In December, the unemployment rate rose to 10 percent. This is the highest in 30 years. According to the Providence Journal, 26,600 were unemployed from December 2007 to December 2008. These new jobs could be seen as soon as this coming year through public work, like construction.
Rhode Island Governor Don Carcieri is displeased with the president's stimulus plan. According to 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 economy. "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."'
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 maybe have some good to look forward to.