Advantage: Rhode Island rests at the center of a 33 million person megalopolis with a GDP of $2.1 trillion. Its location along the northeast corridor puts it in reach of the densest pocket of higher education anywhere in America.
More than 100 colleges and universities are within a 50-mile drive of Rhode Island. Our tech talent pipeline is both enviable and accessible which makes PVD's entrepreneurial ecosystem especially robust. Other compelling features in support of living and working in Rhode Island include:
- favorably priced homes and miles of waterfront property
- competitive salaries
- employer-driven workforce incentives
- growing innovation economy
- easy access to New York City and Boston
- convenient air and rail options
- world class quality of life
- extreme "foodieness."
While comfort, cost and convenience are uber lifestyle strengths for Providence, so are the opportunities for business advancement. At the direction of RI Governor Gina Raimondo, Battelle Technology Partnership Practice, Brookings, Monitor Deloitte and TEConomy Partners conducted a groundbreaking study to identify those sectors that represent particular pockets of strength for distinction and growth. Read more.
Biomedical Innovation: This growth sector advances scientific knowledge of biological processes in ways that are reshaping the diagnosis and treatment of disease. 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: This growth sector advances wireless communications, sensing, imaging data and the internet of things. The convergence of these technologies is generating strong and ever evolving consumer demand. 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: This growth sector advances an area where we have long dominated. 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: This growth sector advances the reliance on back-office operations for web services, data processing, marketing, client management, human resources, financial administration, strategy and product development support. 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: This growth sector advances the nexus of food, health, wellness and originality. Driven by rapid technological developments, falling costs and 3D printing technology, industrial design is an increasingly important part of product and service development. A burgeoning maker movement is lowering the barriers to custom manufactured goods. Particular opportunities for Rhode Island involve "small batch, local and traceable.
Transportation and Logistics: This growth area advances a wide swath of capabilities. 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:This growth area advances creative and recreational services across the arts, higher education, hospitality, full-service restaurants, conventions, gaming and tours and sight seeing. Opportunities include expanding an already vibrant tourism industry and expected employment gains in higher education.