Rhode Island's Promise

Software enabled manufacturing start-ups are dominating

The business environment for entrepreneurial-minded manufacturers is getting a lot of buzz. An explosion of digital tools and services has rocked the manufacturing realm, drawing in computer-assisted design and 3D printing equipment, open-source operating systems and the Internet of Things (IoT). 


A recent article in HBR by Mark Muro of Brookings puts it in perspective:  Innovative “tools, resources, and intermediaries are allowing a new generation of serious entrepreneurs to begin to bridge the worlds of hacker space and industry. As a result, software-enabled manufacturing start-ups are poised to have a large economic impact.”  So, how does Rhode Islander’s famed maker-movement plug into this energy? Engaging young, creative minds is the answer.

 

Governor Raimondo’s Rhode Island Promise Scholarship Program is officially rolling out this academic year, Fall 2017. For prospective students to qualify for RI Promise, they must have just graduated from high school or recently obtained a GED, and they would be eligible for two years at CCRI tuition free.  CCRI is hosting enrollment days on August 10th and 17th – a chance for students to ask questions and enroll for this semester. Rhode Island is the fourth state in the country to offer tuition-free community college, an essential credential for the evolving workforce--- particularly in manufacturing.

 

Rhode Island's efforts to spur workforce development don’t stop there.  Along with being the first state to offer computer science to every child in every public school, Rhode Island partners its high schools and community colleges with local manufacturers to give students industry-specific knowledge, workplace tours, apprenticeships and internships.  Rhode Island also offers student-loan assistance to graduates pursuing a STEM or design career.

 

Looking for a place to start and grow your manufacturing business? Providence's deep roots in manufacturing innovation must be seriously examined. Would you like to learn  more?
 
 

"RI's Promise" Is A Keeper

As is well known, our key focus at the Greater Providence Chamber of Commerce is economic development on behalf of business. And today we wanted to step out and make a few comments publicly about what’s now a universal issue facing general business and entrepreneurs everywhere. And that’s the demand for talent.

America’s business community is feeling optimistic. They’re in an expansion mode. They’re hiring. They’re carefully calibrating what they need to do and where they need to be to produce the most profitable outcomes.

Likewise, the Rhode Island business community is feeling optimistic about the future, and they’re hiring. Our local entrepreneurial environment has never been stronger, particularly due to the high concentration of elite colleges and universities in the area. Yet, the need for even more talent remains intense.

When talking about issues, I like to come at it from a different angle. I point to the “best practice economic development literature” for policy guidance. I think that’s important because it sets context. Area Development and Chamber Executive are two of the most helpful.

Area Development Magazine -- each year in the first quarter -- ranks the policy issues of most importance to American business when it comes to site selection and business facilities planning. In other words: jobs, opportunity, employment, growth. The number one and number two issues. What are they? Quality infrastructure and quality workforce.

American Chamber of Commerce Executives tells us what chambers and business leaders all across this country and internationally are actually doing to drive economic performance. ACCE reports that in 2016, for the first time ever, workers with a bachelor’s degree or higher (36%) outnumber workers with a high school diploma or less (34%).  The face of the workforce is changing.  Everyone knows it.

I bring this up because it shows the degree to which this is an issue nationwide and as an object lesson for RI that competitor states are going at it full bore. Our businesses --- from start-up through mid-cap and Fortune 100 --- are competing with businesses in other communities that are getting their talent pipeline in order real fast.

We want to say very clearly that we support Gov. Gina Raimondo’s Rhode Island's Promise proposal to make us a national leader in college affordability and college completion. This emphasis on talent development is squarely in line with the Chamber’s views on how to cultivate a stronger business climate. Rhode Island employers are creating jobs, and we want those jobs to go to Rhode Island kids.

We are particularly impressed with the central themes of Rhode Island's Promise: reducing the loan debt burden on students and families; improving on-time graduation for students; driving desirable enrollment at Rhode Island College, the Community College of Rhode Island and the University of Rhode Island; and increasing the concentration of our college educated workforce.

We have shared this message in testimony before the House and Senate Finance committees. And we’re teeing it up again today to remind us all to stay focused on the big picture.  We must produce more college graduates. As a nation, we can't afford not to.