RI Biz Winners and Flops
Tuesday, October 11, 2011
Congrats to Washington Trust and the Guerra family - Washington Trust's Commercial Real Estate Group recently provided financing to the Foundry Associates for the Foundry Complex – the 26 acre-former Brown & Sharpe Complex. Mr. Guerra had the vision to purchase that property in the 1960’s and has painstakingly restored it to be one of the City’s largest hubs of commerce. These buildings are 95% occupied with prominent national and regional tenants such as Northwest Mutual Life, Pitney Bowes, AT&T, Robert Half and Associates, Women and Infants Hospital, and Sullivan and Company.
MEDport – the Rhode Island makers of the Fit & Fresh brand have created a vibrant growing company in the state that is growing.
Mayor Taveras – for extending business hours to 7:00 pm to make them more flexible for residents and businesses each first and third Wednesday of each month.
City of Cranston’s Bond rating gets re-affirmed by Fitch. In this environment, that is a big win.
Get Motivated at the Dunk – any event that brings 10,000 plus to downtown with Bill Cosby, Colin Powell and Lou Holtz to Providence is big plus.
The Rhode Island economy – while issues like compassion centers and immigration dominate the headline, Rhode Island’s leaders need to focus on job growth, period.
Wall Street – the occupy Wall Street effort isn’t going away. While the movement may sometimes being ill defined, the resentment against Wall Street is real.
Owners of the Arcade -- the lack of security and maintenance was disclosed by GoLocalTV. Their lack of upkeep is an embarrassment.
RI EDC -- in identifying the state's core growth sectors the EDC Board identified tourism as a critical part of growing the state's economy. This past month, they announced they were closing the Welcome Center in Richmond, RI - the only visitor center on Route I-95 entering the state - travelers from CT, NY, NJ and beyond. All the places Rhode Island is trying to attract tourists from.