We're talking with correspondent Chris Brady of the New England Beacon for this AWHY? Episode. His recent article in the Beacon entitled, 'CVS calls Woonsocket, RI home. Do Residents Benefit?' explores the relationship of a $373B corporate entity and its de-industrialized, under capitalized home city. While Woonsocket lets dozens of teachers go CVS found ways to eliminate its obligation to pay property taxes. Its unique relationship to the state of Rhode Island's Economic Development Corporation allows them to reduce its overall tax burden on income.
While it's true this corporate entity employs thousands, many from Woonsocket and Rhode Island, we're asking what makes for a 'good' or effective corporate relationship between a company and its home community. When should a community consider it would be better to pursue a different corporate relationship? And we're also considering what a positive relationship looks like between a large employer and the region and city it calls home.
Asking these questions are essential in the work we do to build more resilient community's through better economic development and revitalizing a community's built environment.
