2014 Election: In their own Words: Acknowledging that there are a lot of intricately interconnected factors driving the economy and no silver bullet to fix it, what do you feel is the is the single biggest reason RI is slowly recovering/not recovering from the recession?

RI Governor

Todd Giroux (D): I feel that we haven’t done enough to bring in the federal dollars, specifically the banking bailout money that was created by TARP. It provides provisions for small business loans, which could be our state commerce fund, additional provisions for statewide pension fund loss up to $1 billion. That’s written into the law. It’s open until 2018. As a governor candidate, I’m asking, “Why haven’t we brought these billions of dollars of federal money back to RI?”

The high tax rate on property is also a reason; I propose restoring the Homestead Exemption. The economy is lagging due to the sales tax. We’re driving business out of state. I propose a 5.3% sales tax so every RI business can say, “We’re regionally competitive.”

Alan Fung (R): The greatest challenge facing the citizens of Rhode Island right now is the need to turn around our economy and get our people back to work. Earlier this year, I proposed the most comprehensive tax reform proposal of any candidate for Governor of Rhode Island, which would make our state the most competitive place to do business in the Northeast. Tax reform alone, however, will not provide the boost to our economy that we need to reduce unemployment and create real opportunity. I also have pledged to work with business leaders and government agencies to reduce the red tape that stands in the way of business.  To encourage entrepreneurship and promote business development, I have proposed a venture seed fund to assist aspiring graduates and start-up businesses to obtain professional assistance in getting their operations off the ground.

In addition to creating a more competitive business environment, we must ensure that Rhode Island prepares our young people to enter the workforce of the future. I have proposed a comprehensive plan to reform education and worker training in Rhode Island to promote the fields of science, technology, engineering, arts and mathematics. We must promote innovation and accountability in education and modernize workforce training to ensure that students and workers have the skills necessary to participate meaningfully in the 21st century workplace. I would make higher education a budget priority and would encourage greater flexibility for our state educational institutions to operate more efficiently and effectively.

Finally, to inspire business owners to embrace Rhode Island and commit to our future, we must reform the way our government operates. I will stand up to the insider politics and special deals that cast a dark shadow on the reputation of our state. The most egregious example right now is the 38 Studios loan guaranty. I have called on Governor Chafee and the General Assembly to place a hold on repayment of the 38 Studios bonds pending the outcome of ongoing investigations into serious allegations of fraud and misrepresentation. I also have called for an investigation by the Securities and Exchange Commission into the possibility of insider trading. Finally, I have proposed a series of government reforms including term limits, voter initiative, and greater authority for the State Ethics Commission to bring added transparency and accountability to our state government.

Gina Raimondo (D): One of the biggest reasons why it’s taking us so long to climb out of the recession is because Rhode Island’s leaders failed to position our economy to succeed after we lost our manufacturing base in the ’80s and ’90s. Other states like Massachusetts recognized that they would no longer be able to support the type of manufacturing that once supported their economy, and made strategic choices that allowed them to thrive in the decades that followed. We failed to do the same here in Rhode Island; but we need to do so if we want to be prosperous in the future. My jobs plan does exactly that. It uses Rhode Island’s competitive advantages (like our burgeoning food industry and our amazing colleges and universities) to position our state to succeed for decades to come.

Clay Pell (D): I believe the culture of cynicism and politics-as-usual has been holding our state back for too long. We need to break the cycle of pay-to-play politics and elect a Governor free from the influence money buys in politics. That is why I have refused to take a dime from PACs and state lobbyists. I believe it is inappropriate to accept money from the same people who are paid to influence the decisions made in the state house. As governor, I will take a fresh approach to the economic development of the state and build on the unparalleled assets of our state — which have been ignored for too long.

Instead of the pay-to-play politics we have had, I have proposed a detailed strategy to grow the economy of the state. I will build on the maritime economy, creative economy, knowledge and defense sector, as well green jobs and even small-scale agriculture. My economic plan builds on our competitive advantages. Rhode Island once grew because it was at the intersection of the movement of people, goods and ideas. I know we can be that intersection again if we invest in these areas of opportunity and take advantage of our unique people and assets. You can read the whole plan at http://www.claypell.com/issues/economy-jobs

Providence Mayor

Daniel Harrop (R): We have not let the free market take its natural course. Over-regulation accompanied by high taxation (in Providence, two of the last three years had the highest commercial tax rates in the NATION and still we cannot get the potholes filled) continues to drag down the RI economy.

Buddy Cianci (I): The single biggest reason? Lack of innovative leadership. In these economic times, we can’t rely on the same solutions, the same mechanisms, and the same ideas to spur economic development. We have to think out of the box, build upon our assets like our intellectual and university communities, look at how we can use public/private partnerships to get into new industries, and then do basic blocking and tackling like make infrastructure investments, look at ways to streamline our permitting processes, and make our tax code business- and worker-friendly. If you look at other cities, they are bouncing back from the recession because they have leadership that’s out there trying to find new ways to make it happen. We need to breathe that kind of energy and problem-solving acumen into our local leadership to turn the lights back on in Providence. The basics are all here — we have top shelf ingredients, but we need a chef who can pull it all together and make it extraordinary. After all, in my last administration we managed to turn the tide from a massive exodus of department stores from downtown to a downtown mall full of retail in less than a decade.

Michael Solomon (D): Providence needs to embrace small businesses and entrepreneurs. We can address this problem on three fronts. First, we have to make it easier to do business with the city, which begins with a proactive city hall that is in the neighborhoods learning about and responding to the barriers to opening a business in Providence. Second, we have to lower the cost of doing business in the city. I worked with Mayor Taveras to institute a 7-year freeze on commercial taxes. This also means giving business owners something in return for the tax dollars they do pay, which is why I supported a $40 million bond to begin repairing our roads. Third, we have to truly embrace workforce development as a part of our high school curriculum. We need to realize that our students of today are the workforce of tomorrow.

Jorge Elorza (D): You said it exactly: there is no one silver bullet to fix the economy, just as there is no one single biggest factor dragging it down. We have all the tools we need to grow, but we have to get out of our own way and make it happen. That comes down to two things: making Providence an easier place to do business, and building on our strengths. First, we need to foster a culture of ethics and transparency so that City Hall is efficient and treats business people with a customer service attitude. No one is going to want to invest in our economy unless they have confidence in local government. Then we need to better leverage our assets. For instance, the Port of Providence is one of only two deep water ports in New England, and presents tremendous growth potential. It’s so underutilized that it’s as if we built the I-way and then used it only as a bike lane. That’s why I’ve proposed a plan to double our export dollars in five years, which could produce over 1,500 jobs.

Brett Smiley (D):  I think the biggest reason is that we continue to play on too small of a ballfield. We need connect with Boston, and we need to work with our neighbors, Pawtucket and Central Falls and East Providence, to compete for business that’s choosing between Austin and Jacksonville and Pitsburgh instead of squabbling over businesses relocating from Providence to East Providence. We’re trying to see ourselves as a competitor to Boston. We’re not a competitor to Boston, we’re a complement to Boston. We need to open up our borders and allow for some of the good things that are happening all around us to connect to Providence, and we need to work on a national scale.

In a classically RI kind of way, the port of Providence and Quonset compete for business. Whereas in every other state, they try to get as many boats in the state as possible. It’s part of our DNA – we’re proud of our local identity. There’s nothing wrong with that, but it doesn’t mean we can’t cooperate.