§ 42-126-2 - Legislative findings and declaration of public policy. - Rhode Island Statutes

SECTION 42-126-2

   § 42-126-2  Legislative findings anddeclaration of public policy. – (a) The general assembly finds:

   (1) That boating, boat building, outfitting, and relatedindustries have been and continue to be a vital component of Rhode Island'seconomy;

   (2) That these marine related businesses and their skilledworkers are heavily concentrated in Rhode Island's East Bay Region;

   (3) That this region has been considered a labor surplus areaby the United States Department of Labor and that serious conditions ofunemployment and underemployment exist in this region;

   (4) That this region contains vacant and under-utilizedfacilities and resources;

   (5) That as a result of the repeal of the federal luxury taxon boats and the state sales use tax on boats, boating, boat building,outfitting, and related industries have enjoyed a revival in the East Bayregion, and that there is the opportunity for substantial continued expansionof these industries;

   (6) That these industries face national, technical andinternational competition, that the market for the goods and services producedby these industries is national and international, that Rhode Island is anexcellent location for boating and yachting, and that Rhode Island's marineindustries are renowned nationally and internationally; and

   (7) That the promotion and expansion of boating, boatbuilding, outfitting, and related industries, the creation of jobs in theseindustries, and the fuller use of facilities and resources by these industriesin the East Bay region will require the cooperation of federal, state and localgovernments, and private businesses.

   (b) The general assembly declares that it is a public policyand in the public interest to promote job creation and economic development inboating and marine-related industries in the East Bay region and that theestablishment of the East Bay Economic Initiative is a public purpose.