Governor Gina Raimondo and General Treasurer Seth Magaziner want to re-tool a state agency into a new Infrastructure Bank focused on investing in green energy and saving municipalities money.
The proposal would expand the Rhode Island Clean Water Finance Agency into a financer of green energy and energy efficiency projects. Magaziner says if the infrastructure bank is established, it will help kickstart the economy and bring jobs to the state.
“We’ll be able to fund between 20 and 25 million dollars-worth of energy retrofits to public buildings over the next four years saving cities and town millions of dollars on their utility bills,” said Magaziner.
The proposal for the infrastructure bank is a part of the Governor’s 2016 jobs budget, and she says the investment in green energy projects will help get local tradesmen back to work.
“Not only do you bring down energy costs, but there are a few electricians and carpenters who are going to get put to work,” said Raimondo.
“We have an opportunity here to put people to work, rebuild Rhode Island and reduce our dependency on energy; it’s smart policy and it moves the state forward,” concluded Raimondo.