2023 -- H 6210

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LC002685

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2023

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J O I N T   R E S O L U T I O N

MAKING AN APPROPRIATION OF $500,000 TO WATERFIRE PROVIDENCE

     Introduced By: Representatives Slater, and Diaz

     Date Introduced: March 24, 2023

     Referred To: House Finance

     WHEREAS, WaterFire Providence, an independent, 501(c)3 nonprofit arts organization,

has transformed the capital city into an acclaimed international destination over the past 29 years,

creating one of the leading attractions of the important tourism sector, inspiring millions of

residents and visitors, revitalizing our capital city, building community engagement, and

rebuilding our civic pride by presenting WaterFire for all to enjoy its 85 bonfires on the three

rivers in downtown Providence; and

     WHEREAS, The event, complete with music, performers, artists, vendors, and special

events, has revived the nightlife of downtown Providence as an engaging, admission-free event

that appeals to the entire community, drawing nearly one million visitors each year from all

around the world, attracting conventions, and filling our hotels and restaurants, to gather in an

urban park that would otherwise be dark, empty and potentially dangerous; and

     WHEREAS, An independent economic evaluation report by the US Army Corps of

Engineers, as part of a dredging feasibility study, determined that the WaterFire event annually

produces an economic output of $151,305,940 (in 2023, adjusted for inflation); in addition,

WaterFire generates over $11,945,205 in direct tax revenue for the State of Rhode Island, based

on a report from Acadia and the University of Rhode Island (in 2023, adjusted for inflation) and

supports nearly 1,300 jobs for community residents; and

     WHEREAS, Additionally, each year the WaterFire event secures earned traditional and

new media valued at millions of dollars which strengthens the Creative Capital and State of the

Arts brands and promotes them as a top international cultural tourism destination especially

during the summer months when hotel occupancy rates are often at their lowest in Providence and

Warwick and hotels charge higher rates and regularly sell out on WaterFire nights, causing room

inventory to be the biggest driver in determining the event’s economic impact and, from 2014

(2,347) to 2022 (3,031), hotel room inventory increased 29 percent; and

     WHEREAS, In 2012, WaterFire Providence purchased 475 Valley Street, a long

abandoned and rapidly deteriorating historic-registered, industrial property, which it garnered

millions of dollars in out of state monies and rehabilitated and opened in May 2017 as a 37,000

square foot, multi-use arts venue and neighborhood anchor institution known as the WaterFire

Arts Center; and

     WHEREAS, WaterFire Providence is leveraging its strengths, resources, knowledge,

experience and networks to invest in programs that help young members of the BIPOC

community develop the skills and experience that they need to be self-sufficient, contributing

members of the community through the development of the ArtLab@WaterFire and, also,

supporting artists under thirty years of age develop the skills and experience that they need to

advance their careers and become leaders in Rhode Island’s creative economy through the

development of the WaterFire Accelerate program; now, therefore be it

     RESOLVED, That there is hereby appropriated, out of any money in the treasury not

otherwise appropriated for the fiscal year 2023-2024, the sum of five hundred thousand dollars

($500,000) to provide operational support for WaterFire Providence; and the state controller is

hereby authorized and directed to draw his orders upon the general treasurer for payment of said

sum, or so much thereof as may be from time required, upon receipt of properly authenticated

vouchers.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

J O I N T   R E S O L U T I O N

MAKING AN APPROPRIATION OF $500,000 TO WATERFIRE PROVIDENCE

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     This resolution would authorize the appropriation of the sum of $500,000 to WaterFire

Providence.

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