Voluntary Payments & Property Taxes
- Brown joined with Providence’s private colleges and universities in 2003 to sign a Memorandum of Understanding (MOU) with the city to establish a substantial and long-term financial contribution to Providence’s budget equaling nearly $50 million in voluntary contributions over 20 years. Under the terms of a 2012 Memorandum of Agreement (MOA) with the city, Brown is providing an additional $31.5 million over 11 years ($3.9 million/year for five years and then an additional $2 million per year for six years).
- Brown pays $7.9 million in voluntary and property tax payments to the city ($1.5 million in property taxes and $6.4 million in voluntary payments annually).
- Brown pays property tax on all parcels acquired since signing the MOU in 2003. (233 Richmond, 222 Richmond, 61 Clifford, 200 Dyer and 121 South Main).
Services & Fees
- Brown has a longstanding commitment to the city of Providence and has been contributing to public safety and needed infrastructure (maintaining roads, sidewalks, traffic lights, etc.) for decades.
- Brown pays $2.1 million in fees to the city each year, including $1.26 million for sewer utility fees, $785,000 for water, and another $73,000 in other city and state fees.
- Brown maintains its own armed, nationally accredited campus law enforcement agency and ambulance service, responsibilities and costs that would otherwise fall to the city.
- Brown also pays the city about $60,000 each year for Providence police de- tails to supplement its own force at peak periods such as Commencement.
Employer of Choice
- Brown generates 8,200 RI jobs though direct payroll employees, purchasing, construction, student spending, and visitor spending.
- 1,460 employees of Brown reside in Providence.
- Brown spent more than $67 million on construction in 2009, including $35 million with Rhode Island-based contractors, directly generating nearly 270 full-time-equivalent jobs in construction and related industries.
- Brown generates nearly $600 million in total economic output in RI, including $220 million in salaries and wages, an impact equivalent to 1.4 percent of RI’s gross state product.
- Brown University purchases more than $30 million of goods and services from Providence firms each year (and more than $65 million from RI contractors and other companies).
- Visitors to Brown’s new Institute for Computational and Experimental Research in Mathematics (ICERM) at 121 South Main Street added an estimated $1 million to the lo- cal economy during its first year of operation.
Creating RI Jobs
- Brown alumni, students and faculty have started 25 RI- based companies in the last five years.
- 30 Brown-related start-ups and growth-stage companies employ an estimated 200 people. organizations. These companies are derived from and propel RI’s knowledge economy, including biotechnology and information systems with high growth potential. Some examples are Nabsys (biotech-gene sequencing), Andera (financial services IT online-banking), and NuLabel (green adhesive technologies).
Investing in Infrastructure
- Brown has continued to play an integral role in developing the knowledge economy, investing approximately $200 million in and around the Jewelry District over the last decade, purchasing and renovating facilities and providing essential research infrastructure, neighborhood enhancements and thousands of vital construction-related jobs.
Benefits of a Knowledge-Based Economy
- Brown attracted and spent nearly $170 million on research in 2011, making it the leading center of scientific research and development in Rhode Island.
- The Knowledge-Based Economy brings jobs, expertise, and will provide for a secure economic future.
Partnering with the City
- Brown partnered with Providence to open two community police substations, the first on the East Side and the second in the Jewelry District.
- Brown invested in numerous neighborhood enhancements in the Jewelry District, including the new public space, Ship St. Square. Plans are also underway to help support a pedestrian bridge in the India Point area employ an estimated 200 people.
Partnering with Schools
- Brown has raised $1.5 million toward a commitment to raise a $10-million endowment for the children of Providence public schools. Approximately $300,000 in grants have been allocated from the Fund.
- Brown has active, long-term partnerships with six Providence public schools (and lends support and resources to thousands of school students in RI’s six urban districts).
Part Of The Community
- The Howard R. Swearer Center for Public Service supports long-term community partnerships that engage more than 1,600 students in in-depth initiatives with schools and community agencies each year. Some 3,300 students, or 55 percent of Brown undergraduates engage in community service.
- Since 2005, the number of Brown alumni living in Providence has grown by 23 percent.
Brown is a leader nationally in providing support to its home municipality.
last updated 7/3/2012