City supports local business growth through commercial loan program - by James Moran

June 10, 2016 - Rhode Island
James Moran, City of East Providence James Moran, City of East Providence

The past 12 months have marked significant economic expansion in the city of East Providence. Recent New England Real Estate Journal articles have highlighted several new major medical office developments, as well as new and expanded advanced manufacturing growth in the city.  Industrial expansions at Aspen Aerogels, Igus Industries, Eaton Aerospace and the arrival of new industries such as Teknicote and PCL Fixtures have created hundreds of new jobs in a promising growth trend in our city.

In addition to these major industry successes however, the city is proud of the assistance it has been able to provide to small businesses that have either established or expanded their businesses in the city.

Loans this year have been diverse. Within the past twelve months, the city has provided funding for the establishment of a private commercial swimming pool facility for Pods Swimming, a company specializing in swim instruction for youth. The city has also funded a mixed use live/ work facility that provides work and living space for the creative community under the growing “makers movement.”

The company, Coast Modern Construction is part of an increasing trend that supports the local creative arts community with a convenient environment for artists to work and live in under the same roof with other artists. 

The city’s loan program has also been active in assisting in the establishment or expansion of several restaurant and food and drink service establishments in the city including Uncle Tony’s Pizza and Pasta, Borealis Coffee Roasters and Bernardo’s Barbecue Restaurant.  Uncle Tony’s has a strong reputation for great Italian food in the region and it is exciting to see the company moving forward with this significant expansion in our community. Both Borealis and Bernardo’s Barbecue are new companies who are just establishing their businesses in East Providence.  The city has, and will continue to reach out to the local business community to provide commercial funding assistance to those who are in need of low interest financing and contribute to the local economy of our city. 

The city is eager to assist anyone looking to establish a new business or who may be seeking to expand their existing business in East Providence. Business owners, developers and other parties who are interested in learning more about our economic development programs and initiatives in East Providence are urged to contact the city and to visit their website at www.eastprovidence.com or the city’s Waterfront District website at www.eastprovidencewaterfront.com  for more information on economic activities in our city.

James Moran is the economic planner for East Providence, R.I.

Tags:

Comments

Add Comment