EDC Director Tells EG Chamber He Will Build Closer Ties

Keith Stokes, director of the Rhode Island Economic Development Corporation, told the East Greenwich Chamber of Commerce that Governor Chafee wants him to work at the local level and he will be working with Chambers of Commerce on economic and business priorities in their communities.

When asked if the EDC had anything in the works to replace Stanley Bostitch when they move out, Stokes said there have been several inquiries from brokers who are looking for property in the I-95 corridor. He said there has been more broker activity in the last quarter than he has seen in the last two years, but cautioned that there is a surplus of commercial office and light industrial space in the state.

Stokes also announced he is re-aligning his office and is creating a new Main Street program, and hiring staff for it.  Admitting that the state has not done a good job of recognizing the importance of Main Streets, he said the staff would help communities build the identity and business competitiveness of their Main Streets.

Pointing to Governor Chafee’s budget message, Stokes said the  proposals are not just aimed at closing the budget, but using it as an opportunity to begin to change how the state is governed, how services are delivered and how to build a more efficient, transparent and accountable system. He pointed out that the final budget will be a product of the legislature.

“At the end of the day.” Stokes said, “we must be competitive in New England, especially with Massachusetts and Connecticut.”  He told his audience that Rhode Island is not a city-state, but a city-region, with Boston as the Capital and that there is no such thing as a Rhode Island economy, but a New England economy. 

“It is easy for business to pick up and move across borders to a more favorable state,” he said. “And they can do it without losing access to vendors, suppliers, services or customers because New England is all one market.”

He pointed to the pending relocation of Yardney Technical Products of Pawcatuck, Conn. to East Greenwich as an example.  Yardney, he said, came to the EDC looking for a location and became excited about the prospect of the former ON Semi-conductor property on South County Trail. 

“Because the East Greenwich location would not disrupt their existing workforce.” Stokes said, “it was a perfect opportunity. It wasn’t a Connecticut to Rhode Island decision, it was simply a New England decision.”

On other topics Stokes told chamber members that his office would be focused on regulatory reform; is creating a new department to guide people through the licensing and permitting process; that he is teaming with the DEM to create a pad ready site certification system which already has a g.i.s.-based website at RhodeIslandSiteLocator.com; and that the Governor will soon be announcing, with the SBA, a plan to accelerate and expand the guarantee capacity of the SBA 7A program to stimulate business growth.