While comfort, cost and convenience are lifestyle strengths for Providence, so too are the opportunities for business growth. These industry sectors represent particular pockets of strength for the Rhode Island economy.
Biomedical Innovation: Rhode Island has particularly strong market opportunities in neuroscience related therapeutics; medical devices for orthopedic, biosensing, and neurological applications; and health care informatics and digital innovations.
Big Data: Specific opportunities for Rhode Island include cyber-physical systems and data analytics, autonomous underwater vehicles, remote medical device monitoring systems, environmental and energy monitoring, and smart grid infrastructure.
Defense, Shipbuilding and Maritime: Rhode Island is home to a wide range of maritime industries, including boat building, defense-related ship and submarine building, ocean cartography and engineering, and marine tourism. A highly integrated maritime economy that encompasses manufacturing and research reinforces our competitive advantages as the Ocean State.
Advanced Business Services: Applying sophisticated technologies can help large enterprises improve their efficiency. Rhode Island is able to drive growth in this area by leveraging superb IT infrastructure, specialized talent and HQ density.
Design, Food and Custom Manufacturing: The burgeoning maker movement is lowering the barriers to custom manufactured goods. Particular opportunities for Rhode Island involve "small batch, local and traceable" as well digital design innovation.
Transportation and Logistics: Perfectly positioned along the heavily traveled I-95 Northeast Corridor, Rhode Island is an ideal location for logistics and warehousing. Particular strengths for Rhode Island are in the distribution of food and grocery products.
Arts, Education, Hospitality and Tourism: Opportunities include expanding an already vibrant tourism industry and building upon industry sector collaborations in higher education.