Mission and Strategy

Our Vision

Create a 21st Century Innovation Economy that Produces Higher Wage Job Opportunities for All Rhode Islanders

Rhode Island’s economy has changed. Rhode Island must now compete in a global economy where innovation and knowledge are the primary drivers of economic growth. This Economic Growth Plan describes our strategy to create jobs and accelerate the state’s economic transformation.

Our Goal

To increase the percentage of Rhode Island jobs paying above the national average wage from 40 to 60 percent

Despite progress in creating jobs, too many working Rhode Islanders are struggling to make ends meet. This reveals an important truth about our economy: we need to create more high-wage job opportunities for Rhode Islanders.

Across the nation, the average private-sector wage is $42,400. In Rhode Island, the average wage is $38,700. Only 40 percent of the jobs in our state pay more than the national average. Our goal is to increase the number of Rhode Island jobs that pay above the national average wage from 40 percent to 60 percent over the next 10 years, with measurable increases every year. This will create 79,000 new high-wage jobs, produce $2.5 billion in income and $83 million in additional state income tax revenue.

Our Strategy

RIEDC’s Economic Growth Plan consists of six strategies for providing higher wage job opportunities to all Rhode Islanders: