Gina Raimondo Bio, Age, Husband, Career, Governor of Rhode Island And News

Gina Raimondo born as Gina Marie Raimondo is an American politician as well as a venture capitalist currently serving as the 75th Governor of Rhode Island since 2015.

Gina Raimondo Biography

Gina Raimondo born as Gina Marie Raimondo is an American politician as well as a venture capitalist currently serving as the 75th Governor of Rhode Island since 2015.

She was born on May 17th, 1971 in Smithfield, Rhode Island. She is the daughter of Josephine and Joseph Raimondo.

Her dad worked for a watch organization. Raimondo moved on from LaSalle Academy as one of the main young ladies permitted to go to the Providence Catholic Institution, where she was valedictorian.

Raimondo graduated with a Bachelor of Arts (AB) degree magna cum laude in Economics from Harvard University in 1993, where she served on the staff of The Harvard Crimson. She went to New College, Oxford as a Rhodes Scholar, where she got a Master of Arts (MA) certificate and Doctor of Philosophy in 2002 in Sociology.

Gina Raimondo
Gina Raimondo

Her doctoral proposition was on single parenthood and administered by Stephen Nickell and Anne H. Gauthier while she was a postgraduate understudy of New College, Oxford. Raimondo got her Juris Doctor (JD) qualification from Yale Law School in 1998.

Gina Raimondo Age

She was born on May 17th, 1971 in Smithfield, Rhode Island. She is 48 years old as of 2019.

Gina Raimondo Husband

On November 1, 2001, Raimondo wedded Andrew Kind Moffit, in Providence, Rhode Island. The couple has two youngsters, Cecilia, and Thompson Moffit. The family lives on the east side of Providence.

Gina Raimondo Career

Gina Raimondo Early Career

Early Career

Following her graduation from Yale Law School, Raimondo filled in as a law assistant to government Judge Kimba Wood of the United States District Court for the Southern District of New York. Afterward, Raimondo went about as Senior Vice President for Fund Development at the Manhattan workplaces of Village Ventures, an investment firm situated in Williamstown, Massachusetts, and sponsored by Bain Capital and Highland Capital Groups. Raimondo came back to Rhode Island in 2000 to help establish the state’s first investment firm, Point Judith Capital.

Point Judith thusly migrated its workplaces to Boston, Massachusetts. At Point Judith, Raimondo filled in as a general accomplice covering human services speculations; she holds some official obligations with the firm.

Gina Raimondo General Treasurer of Rhode Island

On November 2, 2010, Raimondo vanquished her Republican rival, Kernan King, for the workplace of general treasurer.

She vanquished Mr. Ruler by a wide edge of 62 percent to 38 percent. She got 201,625 votes, more than some other Rhode Island applicant during the 2010 races. She is the subsequent lady, after Republican Nancy J. Mayer of Bristol, to serve in that limit since 1940.

Pension policies

During her first year as General Treasurer, she headed the push to change Rhode Island’s open worker annuity framework, which was 48% supported in 2010. In April 2011, Raimondo drove the state retirement board to decrease the state’s acceptance rate of profit for annuity ventures from 8.25 percent to 7.5 percent.

In May 2011, Raimondo discharged “Truth in Numbers”, a report that supported for advantage slices as the answer for Rhode Island’s annuity issues, and she helped lead the push to cut benefits, alongside Gordon Fox, who was then speaker of the House.

The Rhode Island Retirement Security Act (RIRSA) was instituted by the General Assembly on November 17, 2012, with bipartisan help in the two chambers.

The following day, Lincoln Chafee marked RIRSA into law. A Brown University survey, led in December 2011, found that 60 percent of Rhode Island occupants upheld the benefits change. The lawfulness of RIRSA was tested in court by the open worker associations, yet a settlement was come to in June 2015.

Under Raimondo’s residency, the annuity store was censured for failing to meet expectations of its companions. A portion of Raimondo’s pundits ascribed the underperformance to a sharp increment in charges paid to flexible investments chiefs, while her supporters contend interests in speculative stock investments balance out ventures during business sector downturns for progressively steady returns after some time.

Municipalities

Raimondo made the Ocean State Investment Pool (OSIP), a minimal effort venture vehicle planned to support the state and regions better oversee and improve the speculation execution of their fluid resources, which are utilized for everyday activities including finance and working costs. $500 million in assets could be qualified for the program, which would empower Treasury “to stretch out its aptitude to districts and improve speculation returns by making economies of scale.” The program propelled on April 23, 2012.

Transparency

In 2011, Raimondo drove an audit of the state’s bond divulgence rehearses and refreshed the data explanation and related bond revelation data that will go with future bond contributions. Related to the progressions to bond divulgence strategies, Raimondo propelled the state’s first ‘Speculator Relations Portal’, which incorporates budgetary data and related reports from the workplace of the general treasurer, the Employees’ Retirement System of Rhode Island, the state spending office, the branch of income, and the state office of the examiner-general.

After a battle to get the data in August 2013 The Providence Journal got data from certain assets “Among the data redacted: what organizations the assets put resources into, past returns and withdrawal rates, how much the accomplices gain and their own stakes in their assets, even such subtleties as the personalities of dealers and the assets’ outside evaluating and bookkeeping firms.”

On July 11, 2018, the SEC named Raimondo in Pay-to-Play Scheme with Investment Firm Oaktree.

Payday Lending

During the Rhode Island General Assembly’s 2012 session, Raimondo supported for a reduction in the most extreme reasonable financing cost on payday advances in Rhode Island. She facilitated a roundtable dialog with then-Providence Mayor Angel Taveras and individuals from the Rhode Island Payday Reform Coalition.

Raimondo submitted letters to the Senate and House Corporations Committees in help of payday change enactment. She stated, “Excessively numerous families are confronting monetary difficulties that may be relieved or stayed away from through a more prominent comprehension of individual money,” and “payday credits abuse that absence of comprehension….

With various monetary difficulties, Rhode Island ought not to allow the clearance of a money-related item that traps such huge numbers of clients in a cycle of obligation.” Raimondo composed an opinion piece in the release of May 29, 2012, of The Providence Journal in help of payday loaning change.

Gina Raimondo Governor of Rhode Island

Raimondo was chosen the legislative head of Rhode Island on November 4, 2014, winning 41% of the vote in a three-manner race, vanquishing challengers Allan Fung (R) and Robert J. Healey of the Moderate Party.

Raimondo is the primary female legislative leader of Rhode Island. She is likewise one of nine current female governors of the United States.

During her first year as senator, she upheld extending the state’s Earned Income Tax Credit (EITC), raising the lowest pay permitted by law, bringing down the state’s base corporate duty rate, and taking out the assessment on business vitality use.

Raimondo filled in as the Vice Chair of the Democratic Governors Association for the 2018 race cycle and progressed toward becoming Chair in 2019.

Community service

Raimondo fills in as bad habit seat of the governing body of Crossroads Rhode Island, the state’s biggest destitute administrations association.

Until 2011, she was an overseer Women and Infants Hospital and seat of its Quality Committee. She has served on the sheets of La Salle Academy and Family Service of Rhode Island.

Fellowships and awards

Raimondo is an individual from the Council on Foreign Relations and an Aspen Institute Rodel individual. She was granted a privileged degree from Bryant University, in 2012; and has gotten grants from the northern Rhode Island assembly of trade and the YWCA of northern Rhode Island. Raimondo was chosen graduated class individually at Yale, in 2014.

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Why Rhode Island is the worst state for business in 2019

Source; cnbc.com

Rhode Island is a picturesque enough tiny state, nestled along the New England shoreline. It has a rich history and a population so small that people tend to look out for one another. But Rhode Island is also this year’s bottom state for business in CNBC’s 13th annual America’s Top States for Business competitiveness ranking.

Rhode Island has been here before — this is its fifth time in the last place. It has also never been far from here. The state has never finished higher than No. 45, the ranking it achieved in 2017 and 2018.

The state’s issues have been remarkably consistent throughout. State finances have been in poor shape, sapping Rhode Island’s ability to tend to basic things like maintaining its aging infrastructure.

The tax and regulatory climates have been rough, and economic growth has been sluggish. But at least the rankings have managed to edge a little higher in the last couple years.

That trend — and, far more important, a recent string of competitive successes — has led Gov. Gina Raimondo to start wielding a word that is not terribly familiar to Rhode Islanders: comeback.

“We have stopped the decline,” said Raimondo, a Democrat, in her Jan. 15 State of the State address. “We have stopped the decline, and together we have ignited a comeback of this great state and our economy.”

So far, however, no comeback is showing up in the numbers.

Rhode Island still has America’s worst infrastructure. Half of the state’s roads are in less than acceptable condition, according to U.S. Department of Transportation data. That is by far the worst in the country. More than 23% of the state’s bridges are in poor condition, also the worst figure in the nation.

Fixing the state’s infrastructure has been at the heart of Raimondo’s recovery plan.

“There’s more roadwork going on in this state than at any time in our lifetime,” she said in January.

Paying the price

Under her signature program, known as EhodeWorks, the state has begun collecting tolls on tractor-trailer trucks traveling on Interstate 95.

The maximum toll for a single trip through the state is capped at $20, with a daily maximum of $40. This being such a small state, it is not unheard of for trucks to crisscross the state multiple times in a day. The plan relies on the tolls to fund about 10% of a $4.9 billion, 10-year budget for road repairs.

Not surprisingly, the trucking industry is furious about the law, which specifies that cars, pickup trucks, vans, and even dump trucks are exempt from the tolls.

Michael Collins, the owner of North Kingston-based M&D Trucking, says the law unfairly singles out his industry, and he says it could put him out of business.

“We’re the most taxed industry in the country, for them to come up and attack us,” he said. “When we employ 18,000 people in the state of Rhode Island.”

The American Trucking Association sued over the law’s trucks-only provision, calling it unconstitutional. But a federal judge dismissed the suit earlier this year, saying that the state’s ability to tax is beyond the court’s jurisdiction. The ATA has appealed.

In the meantime, the Rhode Island Commerce Corp., the state’s economic development arm, says the state has completed $1.5 billion in infrastructure projects in the past three years, repaved 100 miles of roadway and repaired or replaced 180 bridges.

A long way to go

Rhode Island’s poor performance in state competitiveness rankings, including CNBC’s Top States study, has long been a sore point with state officials. After the state finished in the last place in 2012, the legislature passed a package of bills under a program dubbed Moving the Needle, aimed squarely at improving the state’s rankings. But the needle barely budged.

More recently, Raimondo, who won a second term last fall, has called on her own experience as the founder of private equity firm Point Judith Capital to bring more business sensibility to state government. But even her handpicked Commerce Secretary, Stefan Pryor, acknowledges the effort is still in its early stages.

“We still have a long way to go, but we’re making tremendous progress,” Pryor told CNBC in an interview before this year’s Top States rankings were released.

Infrastructure is not Rhode Island’s only problem. The state finishes near the bottom of the Economy category at No. 48. The state’s gross domestic product grew by a paltry 0.6% in 2018, the third lowest in the nation. State finances are improving, but the public employees’ pension plan was just 53.7% funded in 2017, according to the Pew Charitable Trusts.

Pension reform was a signature achievement of Raimondo’s when she was state treasurer, but the system may not be out of the woods yet.

Rhode Island’s unemployment rate — 3.6% in May — now matches the national average, which is no small achievement for the state. It is the lowest unemployment rate in Rhode Island in 30 years. And Pryor points to job growth last year, though it was only about 0.6%, according to the U.S Bureau of Labor Statistics. Even he acknowledges it is the first full-year job growth in Rhode Island in 13 years.

Other issues involve costs. Rhode Island had the nation’s seventh highest cost of doing business last year, according to our study, including the third highest natural gas prices. The cost of living was the nation’s 10th highest.

On the right track?

But there are some glimmers of hope.

Pryor notes that 30 companies have moved to the state in the past three years — no minor feat in a small state with fewer than 100,000 total firms, according to the U.S. Census Bureau.

The state has been focusing its economic development efforts on “leaning into the future with investments in innovation,” he said. That includes fostering relationships between companies and the state’s colleges and universities. Rhode Island’s Innovation Voucher Program offers businesses with fewer than 500 employees grants of up to $50,000 to fund research and development in cooperation with research institutions in the state.

In 2018 Amgen announced it would invest $200 million on a next-generation biomanufacturing plant in West Greenwich — the first of its kind in the U.S. — that will employ 120 skilled workers. And biotech firm Rubius Therapeutics began renovations on a former pharmaceutical plant in Smithfield that it plans to open as an advanced manufacturing facility next year.

To be sure, some of Rhode Island’s problems are beyond its control as a small state: It has no railroad network to speak of and few higher-education institutions.

Both of these factors cost the state points that it cannot afford to lose. But at the same time, the state fails to capitalize on functions of its size that could give it an advantage, like the ability to be more nimble and business-friendly than larger states.

For now, Rhode Island can at least be happy with its trajectory, which its leaders say puts the state on the right track.

And that is no small thing.