250 



Developing the 

 tools for growth 



7 Jackson Walkway 



Providence 



Rhode Island 02903 



401-277-2601 

 Fax:401-277-2102 



January 22, 1996 



9 



RHODE ISLAND 

 ECONOMIC 

 DEVELOPMENT 

 CORPORATION 



Committee on National Security 

 U.S. House of Representatives 

 Washington, DC 20515-6035 



Dear Committee members: 



I would like to thank the Committee on National Security for giving me the 

 opportunity to speak on the important issue of economic development as it relates to 

 oceanography, technology transfer, and research partnerships. The Rhode Island 

 Economic Development Corporation continues to support the role of public investment 

 in oceanography and ocean technology development. These important issues are 

 deeply imbedded in the economic history of Rhode Island and must continue to 

 advance thereby encouraging growth and expanding employment opportunities 

 throughout all ocean and bay related sectors of commerce. I can't recall a time when 

 the need for expanded ocean research activities were in greater demand here in Rhode 

 Island. 



The recent collapse of the New England groundfishery and defense spending 

 cutbacks have had a significant impact on the Rhode Island economy. It is estimated 

 that industries on Narragansett Bay alone provide $167 miUion in yearly wages and 

 employ over eight thousand workers. Surprisingly, only 10% of these Bay related 

 wages were generated through oceanographic related research. The declining budgets 

 in oceanography and defense activity have certainly displaced a traditional workforce. 

 Workers relying on the stabiUty of defense contracting no longer have that job security. 

 Therefore, the skills of our workforce have been utilized less with the decrease in 

 defense funding and a strategy is necessary to keep the talents of those workers 

 contributing to the economy of Southern New England. 



Despite these recent restrictions, staff programs are in place to help mitigate the 

 effects of such cutbacks and to become more proactive towards the resolution of these 

 issues. I would like to bring to your attention examples of such programs recently 

 partnered by the Rhode Island Economic Development Corporation (RIEDC). The 

 Southern New England Marine Environmental Technology Industry Development 

 Initiative addresses issues such as: 



• Determining the regional technology assets of industry, academia, and 

 government. 



• Identifying the market gaps in Southern New England. 



• Determining the cause and effect of successful or unsuccessful government 

 programs; 



