“It is a vital part of my economic plan to build the city’s tax base and strengthen our neighborhoods by creating new uses for vacant buildings scattered throughout the South Side.” — David N. Cicilline, Mayor of Providence

FAQ – Economic Development

How can a business incubator help the local economy?
The Gordon Avenue Business Incubator aspires to have a positive impact on the local economy by maximizing the health of emerging companies, particularly those with an environmental focus.

According to the U.S. Small Business Administration, small businesses create 86.4% of the net new jobs in the United States. Community development depends heavily on small businesses, such as will be housed in the Gordon Avenue Business Incubator.

How will the building benefit South Providence?
As a landmark building, the Gordon Avenue Business Incubator will draw businesses to the area. The project has already encouraged interest in the development of adjacent properties. In addition, the building will house one of Providence’s new Community Policing locations.

How does “green” technology contribute to economic development?
Sustainable energy practices provide more money to the local community. Initial capital costs can be spent locally, providing jobs in Rhode Island. That initial investment means fewer dollars heading out of state to pay for ongoing energy costs.