Draws on his record of achievement in improving the economy
“With the right leadership and priorities, Rhode Island can once again become a center for innovation and entrepreneurship, where everyone can have a chance to achieve the American Dream,” said General Treasurer and gubernatorial candidate Seth Magaziner.
“My plan for a stronger economy helps small businesses grow and builds on Rhode Island’s many strengths to create good paying jobs in the high growth industries of the future.”
Treasurer Magaziner’s plan for economic development and growing
Rhode Island small business includes:
·
Supporting Small Businesses
o Create a “one-stop shop”
resource center for small businesses
o Legalize happy hour to
help restaurants that have been hit especially hard by the COVID-19 pandemic
o Direct a larger share of
state contracts to diverse businesses, including those owned by minorities,
women, and veterans
o Fund existing community
organizations that serve local entrepreneurs credibly and effectively
o Grow the Blue Economy,
Green Economy, and advanced, high-tech industries
o Assist innovative
businesses in high growth industries with access to seed funding
o Create more “pad-ready”
industrial sites and turnkey lab spaces
o Encourage out of state
companies to relocate to Rhode Island
o Invest in fast, reliable
rail service between Providence and Boston
o Make affordable,
high-speed internet a reality across Rhode Island
o Provide meaningful tax
relief for small businesses
o Conduct a comprehensive audit
of business registration, reporting, and regulatory procedures and cut red tape
o Use technology to reduce
business time and hassle
o Introduce a “taxpayer
advocate” and provide free tax consultations to businesses to help navigate the
complexities of the state tax system
·
Strengthening Workforce Training
o Strengthen and expand
Real Jobs Rhode Island
o Integrate adult
education into workforce training
o Increase apprenticeship
opportunities and on-the-job training
Treasurer Magaziner has used his current office in innovative ways to promote economic growth and create jobs in Rhode Island.
The clean energy finance programs he created at the Rhode Island Infrastructure Bank have injected more than $120 million into alternative energy and energy efficiency projects in the Ocean State, creating nearly 2,000 construction jobs.
The BankLOCAL program he established has assisted nearly 400 Rhode Island small businesses in obtaining $47 million in loans to expand and hire workers.
Additionally, at the start of the COVID crisis, Magaziner used the influence of his office to convince local banks to expand their Paycheck Protection Program (PPP) lending and repeatedly fought for exempting PPP loans to protect already-strained businesses from closing and losing more Rhode Island jobs.
Magaziner’s economic development and small business plan can be
found online at sethmagaziner.com/economic-development. Magaziner is the
only candidate in the race to date to release detailed policy plans. His
plans for Education and Workforce Training, Infrastructure and Clean Energy,
and Housing are all available at sethmagaziner.com/seths-plan.
