WaterFire Providence, a nonprofit arts organization, has been instrumental in revitalizing downtown Providence, Rhode Island, by hosting the WaterFire event, which features bonfires on the city's three rivers. This event has become a major tourist attraction, drawing nearly one million visitors annually, and has significantly contributed to the local economy. An economic evaluation report indicates that WaterFire generates an annual economic output of over $151 million, provides more than $11.9 million in direct tax revenue, and supports approximately 1,300 jobs. The event also boosts media value, hotel occupancy, and has led to the rehabilitation of a historic property into the WaterFire Arts Center, which serves as a multi-use arts venue and community institution.

In recognition of WaterFire Providence's impact on the community and economy, a resolution has been proposed to appropriate $750,000 from the state treasury to provide operational support for the organization for the fiscal year 2024-2025. This funding is intended to support the continuation and growth of WaterFire Providence's contributions to the arts, tourism, and economic development in Rhode Island. The resolution authorizes the state controller to release the funds as needed upon receipt of properly authenticated vouchers.