The Raimondo Legacy: Governor’s Friends and Foes Discuss Her Successes and Challenges
Saturday, January 09, 2021
Governor Gina Raimondo leaves Rhode Island after dominating Rhode Island politics for the past decade.
President-elect Joe Biden has tapped her to serve as Secretary of Commerce.
She has enjoyed some tremendous successes and attracted some harsh criticism - some deserved and some less so.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTRaimondo, Rhode Island’s first female Governor, has been perhaps the most controversial and ambitious politician to come out of the state.
Only the late two-time convicted felon Buddy Cianci could spark a more vibrant debate.
Moving On and Looking Back
And, give her credit. Via Michael Bloomberg or Joe Biden, Raimondo has been driven to play at the next level — a national stage where at just 49, she has unlimited potential and will not be constrained by the likes of a Nick Mattiello, the former Rhode Island Speaker of the House or anyone else.
Cara Cromwell is one of Gina Raimondo’s closest friends and most important advisors.
She tells GoLocal, “I had the honor and privilege to work for Governor Bruce Sundlun. His tumultuous four-year administration was marked by a credit union crisis and many other challenges along the way. Like Governor Raimondo, he was not afraid to make unpopular decisions and was always ready to defend his position, “ said Cromwell. “He was not beloved during his time in the governor’s office but today Rhode Islanders remember him fondly for his commitment to ethical government, his economic development efforts and for his fair handling of the credit union debacle.”
Newly elected Speaker of the House Joe Shekarchi who ran her campaign for General Treasurer in 2010 tells GoLocal, "From the day I accepted the job to manage her first political campaign when she ran for General Treasurer in 2010, I knew she was destined for greatness and I thought she had the potential to be the state’s first woman governor. She has been an inspiration to many Rhode Islanders."
“Governor Raimondo is going to Washington to serve at the highest level of government at a time when our country has never needed strong and capable leaders more. We may need more than 5 or 10 years to say 'remember when' because I expect she will continue to work hard, exceed expectations and make us all proud to be from her home state for many years to come," said Cromwell.
Another friend and admirer is Lisa Raiola, the founder of the food incubation center Hope & Main, who says Raimondo was an innovator.
"Here is what I will remember. The small food manufacturing business sector would not be here were it not for her vision and support. Hope & Main has grown up under the Raimondo administration, and with it an entirely new industry sector for Rhode Island. When people used to refer to Rhode Island as a 'food state' what I really thought they meant is we're a 'restaurant state,'" said Raiola.
"Now we truly are a 'food state' with hundreds of new CPG (consumer packaged goods) companies established in just the past five years," said Raiola.
"Almost a third have launched at Hope & Main. This activity is bringing back an important form of manufacturing to Rhode Island, i.e., value-added food production. While Governor Raimondo has really struggled to meet the needs of restaurants during the COVID crisis, our local food production economy is flourishing because her administration laid the groundwork for these fledgling companies to find success," Raiola.
"The Raimondo administration centered food and food production in the first Brookings Report in 2016," she added. "She established a Director of Food Strategy, one of only two in the country. Rhode Island's comprehensive food strategy, Relish Rhody, was a direct result of this appointment. Building a more supportive climate for food and beverage businesses has been a priority for Governor Raimondo and I think she has a lot to show for it."
Jobs, Jobs, Jobs
Raimondo who prided herself on her economic record will leave the state in much the ways she found it -- in economic tatters. The pandemic has hammered the Rhode Island economy and exposed Rhode Island's frailties.
"The structural problem that she inherited remains as she decamps to Washington," said former Rhode Island Director of Administration Gary Sasse. "40% of new jobs were created in low wage industries, public schools continued to fail too many students, a game changer approach to innovation is not apparent and the pandemic has complicated the state’s fiscal challenges."
"The Governor also recognized the need to invest more in education and workforce training. Important gains were made to link the workforce needs of businesses to state programs. The jury is still out on other education initiatives. For example, the Governor played a key role in the state’s takeover of Providence schools, but at this time the progress of this initiative is unclear, and more time is needed to evaluate if the CCRI free tuition program is working," said Sasse.
Shekarchi says, "Working with our General Assembly, she took Rhode Island from the highest unemployment numbers in the country to one of the lowest until COVID sadly impacted us. She had many great economic achievements through Commerce Corporation programs, including the Qualified Jobs Tax Credit program I proudly sponsored and it has resulted in more than 3,000 new private sector jobs."
Prior to the pandemic one of the biggest Raimondo successes was the transformation of T.F. Green. She and Chair of the Airport Corporation Jon Savage recruited Iftikhar Ahmad from New Orleans and the airport has exploded in growth.
"The fact that she has been nominated to a cabinet-level position means that others realize that she has done well in her career," said Ahmad. "Before I took the position in Rhode Island about four years ago, I met with Governor Raimondo. I had sent her the information on aviation strategy for Rhode Island. I was very impressed with her when I met her. She had not only gone through the information, she had excellent questions about it. She is very sharp and highly intelligent and I was impressed. Through the years my interaction with her taught me that she has sharp leadership instincts which will continue to light her path to bigger and better things in her life. She is down to earth and you can tell that she does not believe that she has all the answers like some of the other politicians."
Not All Fans
Raimondo's career was launched on the back of her controversial pension reform. Legislation that was packaged about saving the Rhode Island pension fund but has been criticized at hitting just some public employee retirees while avoiding more powerful political constituencies.
Raimondo became the darling of conservatives and received heaps of praise from the likes of the Wall Street Journal to the conservative think tank the Manhattan Institute who awarded Raimondo their highest award - an award the Betsy DeVos recently received.
Raimondo after the pension reform shifted billions of dollars of the retirees to hedge funds and incurred high fees. This brought the attention of Forbes columnist and Wall Street's most successful whistleblower Ted Siedle.
“Gina Raimondo, a venture capital manager with an uncertain investment track record of only a few years—a principal in a firm that had been hired by the state to manage a paltry $5 million in pension assets—had gotten herself elected as the General Treasurer of the State of Rhode Island with the financial backing of out-of-state hedge fund managers," said Siedle.
"The financial and strategic support Gina has received from Wall Street from the very beginning of her political career is noteworthy. Kudos to her for recognizing at the get-go that prolific backing from Wall Street could catapult her into politics, beginning with an elected position (General Treasurer) she was ill-equipped to handle," says Siedle, whose criticisms Raimondo tried to discount, but who simultaneously was awarded more than $70 million in whistleblower fees from federal financial regulator agencies.
"While her so-called 'pension reform' involving shifting assets into highest cost, highest risk investments ever devised by Wall Street cost state workers and taxpayers approximately $1 billion, Wall Street profited handsomely off the state pension," adds Siedle.
Even Cromwell, her greatest support admits that not every initiative was a win or achieved.
"Not every policy goal yielded a win and there were some missteps over the years, but her biggest challenge was what she inherited: a state with high unemployment and low self-esteem. By attracting businesses, investing in skills programs and infrastructure, she drove down unemployment," said Cromwell. "Tackling the pervasive pessimism that is as native to Rhode Island as the quahog is a challenge that her successor may face as well."
Legacy
"She loves Rhode Island and its people. She will be remembered for her focus on education, fiscal discipline, widespread improvements of state infrastructure, and paving the way for women in leadership roles in Rhode Island and beyond," said Ahmad.
Jim Vincent, President of the Providence Chapter of the NAACP says Raimondo's impact was significant and lasting. "Regarding the State Judiciary, Governor Raimondo appointed the first Black person, Melissa Long, to the Supreme Court and the first Black person, Keith Cardoza, to the Workers Compensation Court. Additionally, she appointed the first Latina to any court with Elizabeth Ortiz to the Family Court! Presently, all seven judges of color on State courts were appointed by Governor Raimondo."
But Vincent said more needed to be done to help minority businesses. "Challenges remain with assisting Black and Brown businesses and diversifying the overall State workforce," he said.
One of her biggest boosters is Saul Kaplan, Founder and Chief Catalyst of Business Innovation Factory, who tells GoLocal, "I'm beyond excited for our friend. Gina is a perfect fit for the role and will be amazing at catalyzing public-private partnerships at the national level. Every meeting I've had with corporate leaders from across the U.S., since Gina was elected, has begun with questions about our governor and our state."
Kaplan adds, "Bumping into the positive impressions of Rhode Island, created by Governor Raimondo in executive suites across the country, always makes me feel good about our home state and optimistic about our opportunity to transform our local economy together. Rhode Island can be nationally good and a role model for a 21st-century innovation economy. An economy where everyone gets to participate with equity and inclusion at its core. I can't wait to see what Gina does on the national stage."
Cromwell adds, "There is no doubt that being elected as Rhode Island’s first woman governor was an historic achievement. However, her more significant accomplishment is being an effective woman leader and showing girls and young women that their gender does not determine their potential and should never limit their dreams. Her 'Governor for a Day' essay contests gave girls a look at what it was like to lead our state and provided an invaluable opportunity to talk about how important it is for girls and young women to have successful role models."
"I have absolutely no doubt she will be a rock star in Washington. As President-elect Biden seeks to rebuild a post-COVID economy, he has chosen the perfect person to guide him. I am confident that in the years ahead, history will judge her very kindly," said Shekarchi.
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