The Greater Newport Chamber of Commerce works on behalf of its members to enhance the regional economy by advocating for small business issues to improve business climate, providing technical assistance and resources to local businesses, and collecting data and information related to the regional economy through direct outreach, an Annual Business Walk, and a Business Pulse Survey.  We work closely with state and municipal leaders on a wide variety of programs to support industry sector activity, infrastructure improvements in the Region, and all factors that impact economic development capabilities.

As Rhode Island faces a looming budget deficit in 2025, there is growing concern about how fiscal shortfalls could impact the state’s business community, particularly small businesses that are already operating with thin margins. Rising taxes or unexpected fee increases could create an additional burden on small business owners, hindering their ability to invest in growth, hire new employees, or innovate. To ensure a thriving business environment, we advocate for a balanced and strategic approach to fiscal policy—one that includes targeted spending cuts, a commitment to maintaining competitive tax rates, and ensuring that any new revenue generation efforts are aligned with the needs of local businesses. The state should prioritize incentives for small business expansion, invest in workforce development, and create an environment where entrepreneurship is encouraged, not stifled. Sound fiscal discipline paired with a supportive business climate is essential for Rhode Island's long-term economic prosperity and the vitality of our small business community.

The following is a summary of the Greater Newport Chamber of Commerce’s policy priorities for 2025: 

Economic Development and Entrepreneurship

• Support statewide and departmental efforts to adopt a balanced and strategic approach to the FY 2026 state budget, including targeted spending cuts for inefficient and bloated programs.

• Support statewide efforts to offer economic incentives to existing RI businesses for growth opportunities rather than draconian mandates.

• Advocate for state support of public private partnerships when the projects have positive economic impact implications for the region, maintain and enhance job opportunities, increase revenue projections, and enable growth and expansion among RI’s targeted industry sectors.  

• Support innovative business models and their ability to operate successfully in the State of Rhode Island.

• Encourage tax policies that enable regional competitiveness for our business community.

• Support historic tax credit legislation to support reuse and repurposing of historic properties in order to enhance economic development initiatives and maintain New England character throughout our communities.

• Support the film tax credit program.

• Encourage revising estate tax policies and rates.

• Closely monitor proposals related to pension reform.

 

Small Business Expansion

• Explore the creation of a revolving loan fund program to be managed and distributed locally.

• Build programming to further enhance engagement with minority business service providers and MBE owned businesses to support growth and development.

• Work closely with state leadership to establish programs to meet the technical assistance needs of the small businesses community, specifically for ecommerce site development, financial literacy/stability, and technology upgrades for general business operations.

• Support proposals to reduce regulations and fees imposed on the small business community.

• Support for state matching funds of SBA, SBDC and CWE federal resources, to enable those valuable resources to small businesses to continue and perhaps be enhanced.  Continue to partner with all three organizations to bring quality programming to the Greater Newport region.

• Continue to support efforts to streamline the regulatory process on a statewide and municipal level for issues related to the business community.

• Reduce the cost of doing business by implementing tax reform and opposing new state mandates that will be costly and infringe on the private sector’s ability to do business autonomously. 

• Develop state tax incentives for businesses to start 401 k plan for employees for first 3 years.

• Funding for capacity building for regional economic development entity.

• Support the Supply RI and Innovation Voucher Program for small businesses.

• Support efforts to diversify energy sources and reduce overall costs of utilities to maintain a level of competitiveness for the region.

• Advocate on behalf of proven environmental policies that will have direct positive impact on our island communities, related to resiliency, transportation options, and the economic activities associated with ocean communities.

Workforce Development, Education and Talent Pipeline

• Offer Job Bank for employers and individuals seeking work.

• Support the development of talent recruitment packages and incentives through a statewide program to address workforce shortages.

• Invest in workforce development programs for training and retraining a skilled workforce for blue economy industry sectors.

• Support Real Jobs RI, Wavemaker programs, and RI Promise programs.

• Support modernization of our education system and its facilities to best support a skilled workforce that can meet the demands of the future of work.

• Support efforts to strengthen the community care, healthcare and child care workforces.

• Support efforts to expand access to child care services for workforce, including supporting efforts to address the cliff effect impacting women in the workforce eligible for child care subsidies that would allow for upward mobility.

Infrastructure

- Advocate for programs and projects for infrastructure improvements related to housing, broadband, transportation and education.

- Support efforts to leverage federal investment to broadband infrastructure throughout the region.

- Support planning efforts related to infrastructure investments to Aquidneck Island that add military value and efficiencies to Naval Station Newport.

In addition to actively engaging on the issues outlined above at the State House, the Chamber looks forward to continuing to support coordination of the Regional Economic Development Division, a robust BRE program, and investment in areas identified in the regional 10 year strategic plan for economic development.  We will hold regular meetings with statewide elected officials and municipal leadership, as well as offering quarterly public policy sessions in partnership with the Pell Center to bring statewide candidates and conversations to Greater Newport for all members.