RHODE ISLAND SMALL BUSINESS NOT SURPRISED BY DISASTROUS RESULTS

PROVIDENCE (April 8, 2015): The National Federation of Independent Business (NFIB) was disappointed to learn today that the ALEC-Laffer State Economic Competitiveness Index found Rhode Island competing for last place when it comes to economic performance in their latest national study.

“It should really come as no surprise, but it’s still disappointing,” said NFIB Rhode Island State Director Bill Vernon, “We have been saying for years that Rhode Island law makers must make tough choices to allow the state’s small businesses to grow and flourish. That’s the only way to avoid more disappointing rankings in the future.”

According to the study, the Economic Performance Ranking is a backward-looking measure based on a state’s performance on three important variables: State Gross Domestic Product, Absolute Domestic Migration, and Non-Farm Payroll Employment—all of which are highly influenced by state policy. This ranking details states’ individual performances over the past 10 years based on this economic data.

“I hope law makers will see this as a wake-up call and look at what successful states have accomplished by reducing regulations and lowering taxes,” Vernon continued. “When a state government becomes less intrusive and creates a hospitable environment for small business, everyone wins.”