Rhode Island Public Expenditure Council

• Rhode Island’s economy experienced positive results in the second quarter of 2024, according to the Rhode Island Key Performance Indicators Briefing. Released by RIPEC in partnership with The Center for Global and Regional Economic Studies at Bryant University, the Briefing shows that the Ocean State outpaced the nation and New England in labor participation, which expanded for the fifth straight quarter and is now at 64.9 percent.
  • Providence Business News, “RIPEC: Q2 results show state’s economy continues to move in positive direction”
  • WPRI 12, “Nesi’s Notes”
  • What’s Up Newp, “Rhode Island’s economy continues largely positive trend according to key economic indicators in Q2 2024”

• RIPEC President and CEO Michael DiBiase told the Rhode Island Current that the McKee administration’s recent efforts to rein in spending are “necessary and appropriate given the deficit they are looking at.” RIPEC’s May report on the state budget found that future projected deficits resulted in part from the governor’s proposed use of one-time funds to pay for continuing expenses—which the General Assembly left essentially unchanged in the enacted fiscal year (FY) 2025 budget.  

• RIPEC was recently recognized by the Governmental Research Association (GRA) for its exemplary research and communications, as well as for helping to realize policy achievements. The GRA conferred awards to RIPEC in three categories:
  • Outstanding Policy Achievement: State Government Issue Award for “State Education Multilingual Learner Funding”
  • Most Distinguished Research: State Government Issue Award for “Empty Seats: Enrollment and Chronic Absenteeism in Rhode Island Schools”
  • Certificate of Merit for Best Short Form Writing for “Rhode Island Needs to Pick up the Pace to Tackle Affordable Housing Crisis”

• A WPRI 12 report on the troubling shortage of multilingual teachers in Rhode Island cited RIPEC’s October 2023 policy brief on multilingual learner funding in the Ocean State. RIPEC detailed that the number of multilingual learners has grown 63.0 percent since 2015 and that multilingual learners now make up one in eight Rhode Island public school students.

Inside Insights

• A new report from Forbes on the cost of living in the fifty states placed Rhode Island as the 13th most expensive state. The report identified housing and healthcare as the primary drivers of costs, with the Ocean State ranking 11th and 13th most expensive respectively in those areas.   

• A study by the Tax Foundation found that only three states fully fund their share of road spending with dedicated transportation revenues. Rhode Island state and local transportation tax revenue made up 57.0 percent of state highway spending, ranking 32nd among states.

• The Rhode Island Association of Realtors announced that the median price of a single-family home in Rhode Island reached $470,130 in the second quarter of 2024, a 9.3 percent increase over last year.

What to Look for in August

• Here’s your chance to shine a light on Rhode Islanders who have made outstanding contributions to public service. RIPEC is seeking nominations for its 48th Annual Public Service Awards recognizing outstanding local and state employees. Nominations are due by September 9th.