Bill would remake R.I. economic development agency
4:18 PM Fri, May 29, 2009 | Permalink
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Senate President M. Teresa Paiva Weed has filed legislation to overhaul the state Economic Development Corporation, after a review panel criticized the agency as ineffective and in need of fresh leadership. The bill, submitted on Wednesday, would expand the agency's board from eight members to 13 and allow Governor Carcieri to dismiss current members in February. Carcieri, chairman of the EDC board, would have the power to appoint an additional five members immediately. The review panel issued its report in April, calling for "systemic change" to reverse "long-standing underachievement." It called for the immediate resignation of EDC board members, a recommendation Carcieri rejected. The agency has been criticized for years for failing to create jobs and attract companies to Rhode Island. But scrutiny has become particularly intense during the recession that started here more than two years ago. The jobless rate is 11.1 percent, the fourth-highest in the country. 
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