All Pawtucket All The Time

Sen. Joseph A. Montalbano, a Democrat representing District 17, is committed to economic development and looks forward to continuing to build upon efforts to grow jobs in Rhode Island.

“Now more than ever it is vital that we make smart policy decisions and investments in order to grow jobs in Rhode Island,” said Sen. Montalbano. “One of the most important factors in economic development is tax policy. That is why it was so vital that we held the line on taxes, even in these difficult economic times. We were successful at ensuring no tax increases this year, and I will work to see that we continue to hold the line on taxes. I have also worked to reign in property taxes, such as through the historic property tax cap and increases in local aid.”

Sen. Montalbano was the prime sponsor of the historic tax credits, widely considered the most effective economic development tool the state has ever had. This incentive has been used to transform numerous dilapidated mills and other old buildings into thriving businesses and residences, putting properties back on the local tax rolls, creating jobs, and generally improving neighborhoods. Lincoln, North Providence and Pawtucket have all benefited from the historic tax credit program.

Sen. Montalbano also sponsored the Jobs Growth Act, which led directly to the creation of 1,000 new, high-paying jobs in northern Rhode Island by Fidelity Investments, as well as a new, $65-million facility that will be opening soon.

“The Jobs Growth Act created good jobs for Rhode Islanders, and at no cost to the state. It makes Rhode Island’s income tax structure more competitive with Massachusetts, and any qualifying company can participate. These are the kinds of smart economic development initiatives that I will look to build upon in the coming year.”

Sen. Montalbano has also sponsored and supported a variety of more targeted incentives, such as the Biotechnology Jobs Growth Act, which led to the creation of 450 jobs by Amgen and the decision by a Connecticut company to move to Rhode Island and create jobs here.

To learn more, please visit: www.MontalbanoForSenate.com.