How much is Rhode Island’s tight state budget this year an obstacle to the life-sciences effort?
The governor, in his budget, level-funded the economic development and STAC initiatives, so we’ll see what happens as the General Assembly works through the budget. The governor was very supportive and continues to want economic development to be a big part of the agenda for the future. We continue to work on it. It’s a tough budget year, not just here in Rhode Island but all over the country. It is these tough economic times that only increases our resolve to play offense and to aggressively put out a clear vision and a specific action plan. Do the economic times explain the EDC’s pursuit of the growth capital fund? Is this meant to compensate for reduced investment in early-stage companies by banks and venture capital firms? We want to make sure there’s enough growth capital available — everything from seed capital for early-stage companies to growth capital and working capital for existing companies that have opportunities to grow. It’s really important that we have the whole contin
