Blue is not Green: ...What, exactly, is the money for?
Rhode Island will soon be voting on five ballot measures to
borrow money for education, housing, economic development, cultural
improvements, and the green economy. 
These signs can be found across North Kingstown
I want to focus on Question 3: a $100 million investment in the so-called Blue Economy. The question reads:
- Economic
Development $100 million: Approval of this question will allow the
State to issue general obligation bonds, refunding bonds, and/or temporary
notes in an amount not to exceed one hundred million dollars to fund
industrial facilities infrastructure improvements for economic development
purposes, to fund site development and growth industry infrastructure, to
be allocated as follows:
- Site
Development: Provides $55 million for land acquisition or assembly,
environmental remediation, infrastructure and utility installation, site
preparation or development, and project investments. Eligible uses
include, but are not limited to, large-scale industrial site development
to create pad-ready locations and/or facilities, infrastructure
improvements and investments within the Quonset Business Park, and land
acquisition, preparation, and project investments within the I-195
District.
- Growth
Industry Infrastructure: Provides $45 million for infrastructure,
facilities, projects, and investments that support Rhode Island’s ocean,
defense, life sciences, data analytics, and related industries. Eligible
uses include, but are not limited to, water-based test ranges and onshore
ocean- or defense-related innovation/production facilities, as well as
facilities, projects, and investments that advance businesses and job
growth in the life sciences.
Question 3 will almost certainly pass. As far as I can tell, every bond question sent to Rhode Island voters for approval over the last two decades has passed. [Note: A $100 million bond, paid back over 20 years at 5% interest, will ultimately cost Rhode Island taxpayers over $160 million.] But what, exactly, is the money for?
The phrase “[e]ligible uses include, but are
not limited to” is extremely broad. A literal reading of the phrase could
include any imaginable expenditure. Similarly broad is the phrase, “investments
that support Rhode Island’s ocean, defense, life sciences, data analytics, and
related industries.” Does “data analytics” include data centers? Such an
investment is certainly covered by the phrases “related industries” and “not
limited to.”
The Blue Economy is bullshit
You may have heard the phrase “Blue Economy” bandied about
by our federal delegation and local state and corporate leaders. The Grow Blue Partnership, a Rhode
Island-based coalition of industry groups, environmental organizations,
government agencies, and academic institutions, including the University of
Rhode Island (URI), defines the Blue Economy as “the sustainable use of the
ocean to create a resilient economy and good-paying jobs.” Which sounds great,
until you realize that defense contractors make up a substantial chunk of the
Blue Economy.





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