RIEDC eNews - December 2007 Top News Innovation Tax Credit Stimulates Investment in Rhode Island Companies The Rhode Island Economic Development Corporation Board of Directors approved six companies to pursue investments that will be eligible for the state's new Innovation Tax Credit program. The credit offers investors up to a 50 percent credit on eligible investments, with a maximum credit of $100,000, and is designed to promote growth in high-wage industries. The companies are: Bionica Corporation, Lighthouse Security Group, Ocean State Solutions, Providence Health Solutions, Public Display and Tizra. [more] Jack Templin: R.I. Should Nurture Info-Tech Gem In a Providence Journal editorial published on December 10, Internet strategy consultant Jack Templin urged state leadership to make more strategic investments in the state's info-tech and digital media sector — the state's highest-paying industry. Templin is the architect of RIEDC's RI Nexus program. [read the Op-Ed] Legislators Tour Quonset Business Park Members of the Rhode Island Senate and House recently toured Quonset Business Park with Chief Operating Officer Steve King. Rep. Peter Palumbo (D-Dist. 16, Cranston), Sen. Paul E. Moura (D-Dist. 18, East Providence) and Rep. John McCauley (D-Dist. 1, Providence) were impressed with the progress made at Quonset. [more] Innovation in Action BIF Receives Champlin Grant to Expand Innovation Story Studio Putting a high priority on capturing and sharing stories happening in and around the innovation community through its Innovation Story Studio has paid off for the Business Innovation Factory. Thanks to a $102,000 grant from the Champlin Foundation, BIF can purchase equipment and create a physical studio to complement the organization's current capabilities. [more] Innovator Spotlight: Signal to Noise Unlike other aspects of production, most music does not have a one-time buyer's fee — you pay each time you use the song. At Signal to Noise, a music licensing and custom music design company, providing royalty-free music (meaning you buy it, it's yours to use over and over again) is a top priority. [more] RIEDC Update R.I. Nexus Forum Draws More Than 100 Participants A lively mix of entrepreneurs, artists, web designers and business owners made for interesting conversation at the December 6 RI Nexus event — From Coworking to Fab Labs: Creating Next-Gen Working Environments for R.I.'s Info-Tech and Digital Media Community. More than 100 people came to hear what a six-person panel had to say on the latest trends in next generation spaces for creative and high-wage sectors, such as the info-tech and digital media industry. [more] RIEDC's Sherri Carrera: PBN's Newsmaker for the Week of December 17 As the manager for Every Company Counts, RIEDC's small business initiative, Sherri Carrera helps Rhode Island small business owners find solutions to the challenges they face, from marketing their business to figuring out business rules and regulations. [more] MEDICA Trade Fair Spawns Leads for R.I. Firms The RIEDC partnered with other state agencies across New England to attend MEDICA 2007 in Dusseldorf, Germany. Two Rhode Island medical companies, Medport and Biomedical Structures, participated in the trade show to get introduced to the Eastern European marketplace. [more] Greek Ambassador Meets with RIEDC Export Team On December 3, RIEDC export officials met with Greek Ambassador Alexandros Mallias and Greek Consul General Constantinos Orphanides to discuss opportunities for bilateral cooperation between Greece and Rhode Island. The group discussed partnering on fresh water, education and R&D projects as well as trade opportunities. [Learn more about RIEDC export programs] Community News Lt. Governor's Healthcare Initiative Proposes Changes in Policies Lt. Gov. Elizabeth Roberts launched an initiative last month called "Mission: Healthy Rhode Island." Roberts' program aims to propose changes to the state's healthcare policies to the 2008 General Assembly. The meetings will continue to be held at the RIEDC's offices through January. [more] BRAC Report Boding Well for R.I. Following the release of the Base Closure and Realignment Commission (BRAC) report two years ago, Rhode Island is faring well — the U.S. Navy's presence in Newport is growing, and tech companies are finding the state more attractive. The Navy's growth, along with an expansion at the Naval Undersea Warfare Center (NUWC) has prompted companies to locate or relocate their businesses close to NUWC. [more] Research Projects Abound at NUWC's Newly-Created Center for Excellence Just nine months after the Naval Undersea Warfare Center's Center of Excellence in Undersea Technology was created, a wealth of marine and defense research projects are already underway and producing exciting results. [more] Higher Education Bryant Wins Manufacturing Partner Award On November 3, Bryant University received the 2007 Manufacturing Partner award from the Rhode Island Manufacturers Association. The award recognized the work done by the college's John H. Chafee Center for International Business and for its World Trade Day, an annual initiative that brings companies together to explore business opportunities overseas. [more] Prestigious CFA Institute Names URI a Partner The Chartered Financial Analyst Partner Institution has formed a partnership with the University of Rhode Island's College of Business Administration, making URI one of only 13 colleges recognized by the CFA Institute in the United States. [more] Events PTAC Training Session When: December 20, 8:30–11 a.m. Where: Rhode Island Economic Development Corporation, 315 Iron Horse Way, Suite 101, Providence. Contact: Louis Francis, 278-9151, lfrancis@riedc.com, http://riptac.ecenterdirect.com This month's training session focuses on preparing a government contract proposal. One-on-one counseling is available by appointment. Rhode Island College Biology Masters Program Open House When: January 8, 4–7:30 p.m. Where: Student Union Ballroom, Rhode Island College, Mt. Pleasant Ave., Providence. Contact: 456-8884, biology@ric.edu The biology department at Rhode Island College is comprised of diverse faculty engaged in broad research activities. Meet faculty and administrators, get program and application information, and information on financial aid at the open house. The college's graduate application fee will be waived for all applicants who attend the open house. Every Company Counts and Central R.I. Chamber of Commerce Present: Providing an Unforgettable Customer Experience When: January 23, 4:30 p.m. Where: Hampton Inn, 2100 Post Rd., Warwick. Contact: 447-8000 This is the sixth in a workshop series titled, "The Felony Marketing Series...How to Steal Competitors' Customers or How to Outthink Rather Than Outspend the Competition." This series is produced by Dave Nash and sponsored by Every Company Counts and the Central Rhode Island Chamber of Commerce. The cost of the workshop is $29, payable by check or credit card. Advance registration is necessary. Rhode Island Science and Technology Advisory Council Meeting When: January 25, 10 a.m. Where: State House, Room 313 Contact: Christine Smith, 401-278-9197, csmith@riedc.com This email newsletter goes out to all employees of the RIEDC. Our mailing address is: RIEDC 315 Iron Horse Way Suite 101 Providence, RI 02908 Our telephone: 401-278-9119 Copyright (C) 2007 RIEDC All rights reserved.