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Q: What drives Providence, RI's economy? ( Answered 5 out of 5 stars,   0 Comments )
Subject: What drives Providence, RI's economy?
Category: Business and Money
Asked by: shikibobo-ga
List Price: $20.00
Posted: 20 Oct 2004 09:42 PDT
Expires: 19 Nov 2004 08:42 PST
Question ID: 417587
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Subject: Re: What drives Providence, RI's economy?
Answered By: googlenut-ga on 23 Oct 2004 15:33 PDT
Rated:5 out of 5 stars
Hello shikibobo-ga,

Healthcare and education are the largest drivers of the economy of
Providence.  Manufacturing is also an important sector. Providence?s
largest employer is Rhode Island Hospital with more than 5,800
employees, followed by the Roman Catholic Diocese of Providence with
5,400 employees and Brown University with 4,450 employees.


Rhode Island Economic Development Corporation 
Rhode Island?s Top 100 Employers June 2004
Economy and Business in
Providence, Rhode Island, USA
Empowerment Zone Proposal
8.1 Tax Incentive Utilization Plan
?The health care industry is Providence's largest source of jobs and
one of its fastest growing sectors.?
(Page 4)

Initiatives & Action
Rhode Island Economic Policy Council
?Providence is a Creative Hub 
Partners: City of Providence, Providence Foundation, RI Foundation,
Providence Chamber, Brown, RISD, JWU, Lifespan, and National Grid

This initiative nurtures and markets Providence?s authenticity and
liveliness to enhance it a center for music, the arts, design and the
creative segments of software and biotech, building on Providence?s
two largest economic anchors: the colleges and the hospitals.?

Rhode Island Economic Development Corporation
EDC Profile City of Providence
City of Providence
?Providence's economic assets include accessibility to excellent
transportation facilities, including the Port of Providence, with its
40-foot channel, a high concentration of skilled workers, and six
colleges and universities. Providence's major manufacturing
industries: metals, machinery, textiles, jewelry, and silverware were
established by 1830 and helped attract the international immigrants
that have shaped Providence's neighborhoods. At the turn of the 20th
century, Providence boasted the world's largest tool factory (Brown
and Sharpe), file factory (Nicholson File), engine factory (Corliss
Steam Engine Company), screw factory (American Screw), and silverware
factory (Gorham). Today Providence is one of the largest centers of
jewelry design and manufacture in the United States. Major employers
in Providence include over a half dozen hospitals, Citizens and Fleet
banks, the Diocese of Providence, state government, and a diverse
range of manufacturing and service companies.?
Lifespan Economic Impact Report
?Lifespan is an integrated health care system that provides a
comprehensive array of services to Rhode Island residents, from
infancy through the final years of life. As Table 1 indicates, the
four Lifespan Rhode Island hospitals together have a capacity of 1,222
beds - 37 percent of all hospital beds in the state. Lifespan is,
therefore, Rhode Island?s leading provider of health services - the
largest contributor in a sector that represents approximately 11
percent of the state?s economy.

Health care represents an even larger share of the economy of Rhode
Island?s capital city. Providence?s role as a major regional health
services center - in effect, marketing health care to people from
other communities throughout southeastern New England and beyond ? has
emerged as a mainstay of its economy. In 2000, the health services
sector accounted for 17.3 percent of all employment - and 20.2 percent
of all non-governmental employment - in Providence. Health services
also accounted for 20.7 percent of all non-governmental wage and
salary payments in the city.

Health care has historically represented a stabilizing force during
economic downturns. During the recession years of the late 1980?s and
early 1990?s, when Providence suffered severe job losses in other
leading sectors such as manufacturing and financial services, the
health care sector brought a critical equilibrium to the city?s
employment base. Today, Providence?s health services sector employs
more than twice as many people as its manufacturing sector.?
(Page 9)


U.S. Census Bureau 
The 2003 American Community Survey  
Population and Housing Profile:  Providence County, Rhode Island

U.S. Census Bureau 
The 2003 American Community Survey  
Providence County

U.S. Census Bureau
Table DP-3. Profile of Selected Economic Characteristics: 2000
Geographic area: Providence County, Rhode Island

U.S. Census Bureau
2000 County Business Patterns for Providence, RI


I hope you have found this information helpful.  Please contact me if
you have any questions.


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