RIEDC Teams with Providence Chamber
Wednesday, December 21, 2011
Rhode Island Economic Development Corporation's Board of Directors gave the agency’s Executive Director Keith Stokes the green light to move forward with plans to create a formal private-public partnership with the Greater Providence Chamber of Commerce. The unusual agreement is designed "to grow the state’s knowledge economy."
The collaboration will be "focused on attracting out-of-state businesses to relocate near the high concentration of medical and research institutions, technical and creative talent, and high-tech companies already in downtown Providence."
The goal is to leverage the old jewelry district and couple it with the land captured from moving Route I-195 to create a link between the colleges, hospitals and private sector.
“With the new Brown University Medical School, outstanding hospitals, and some of the best colleges and universities in the world, we have all of the pieces in place to make Providence’s Knowledge District a catalyst for long-term job and business growth throughout Rhode Island, Governor Lincoln Chafee said via a press release.
Creating a "vibrant entrepreneur community"
Building on the existing high concentration of leading healthcare facilities and R&D centers of excellence, top institutions of higher education, active business networks and a vibrant entrepreneur community, Providence is poised to compete successfully for new growth opportunities in industries including life sciences, healthcare, IT, digital media, engineering and advanced manufacturing.
“I commend Governor Chafee for his leadership and vision for the future growth of Rhode Island’s knowledge economy. Looking at other states which have similar models, private sector participation is critical to driving business attraction. We need to engage our collective energies, contacts and know-how in a strategic and systematic way to elevate our knowledge economy to the next level,” said Stephen Lane, RIEDC Board member.
The RIEDC’s private-public partnership with the Chamber will establish a new entity that will clearly articulate to businesses from outside the state how they can benefit from coming to Providence. The organization will dedicate a Chief Business Attraction Officer solely to recruit out-of-state companies to Providence that will create high-tech, high-wage jobs in emerging and growth industries.
