Governor Carcieri has overseen the creation of approximately 14,600 net, new jobs in three years as development and construction activity in Rhode Island continues at an unprecedented pace.

In Governor Carcieri’s first State of the State address, he boldly set a goal of creating 20,000 net new jobs in Rhode Island during his first term. Major economic forecasting firms said that such a number was too tall an order for the state. But Governor Carcieri is on track to reach his goal. More than 14,000 jobs in Rhode Island have been created through December 2005.

Bio-tech jobs.  Amgen has added more than 725 new jobs since 2003 and invested more than $1 billion in its West Greenwich manufacturing facility.

Professional and financial service jobs.  Bank of America, Citizens Financial Group, and Fidelity Investments are adding more than 1,500 new jobs.

Engineering/military defense jobs.  The BRAC Commission voted to add 500 new jobs for military commands in Newport.

Infrastructure investments at Quonset Point.  The $48 million bond issue to make infrastructure improvements at Quonset Point was proposed by Governor Carcieri and approved by voters in 2004. These improvements will result in thousands of new jobs there.

New construction projects throughout the state.  Capital investment in projects around the state totals $5 billion. In Providence alone, capital investment is at $2 billion…and growing.

Encouraging small business growth.  The RI Economic Development Corporation established Every Company Counts initiative to work directly with small businesses. This includes:

• $4 million to create the RI Small Business Loan Fund Corporation.
• $500,000 set aside for the Microbusiness Emerging Growth Fund.
• $250,000 small business loan fund to encourage agritourism.

Creating strategies to encourage further growth.  Governor Carcieri created the Office of Tax Analysis and Research to develop tax policies to encourage job growth and entrepreneurship.