laurie white

Globally Relevant in PVD

5 Signs That Infosys’ Halo Effect Is at Work in Rhode Island

 

When Ravi Kumar, president of Infosys, recently spoke at GPCC’s Economic Outlook Luncheon, he shared the company’s progress in creating a design hub and hiring hundreds in Rhode Island. The direct impact of what Infosys is doing in the state is clear: creating jobs for Rhode Islanders. It’s also important to consider the indirect results—or halo effect—of bringing new businesses to our state:

 

1.      Jobs beget jobs. The types of tech service jobs that Infosys is hiring for in RI normally have an impact of four to five jobs downstream. That is because the new hires are often people just entering the job market, which means they will need housing and have other economic needs that didn’t exist before. And because these are relatively high-paying positions for entry-level workers—he told us the ballpark is $60,000, plus a signing bonus and year-end incentives—consumerism is higher than it would be for lower-paying jobs.

 

2.      A workforce that is trained to succeed. When Infosys made the announcement last year that it would hire 10,000 tech workers in the United States, Ravi knew there wasn’t enough tech talent in the market to reach that number. So the company went back to its roots—its foundation of education and learning. It had faced a similar dearth of tech talent in India, where for two decades it hired talent that was in school or newly graduated and then ran a finishing school to make them production-ready for tech work. Now in the United States, Infosys is following a similar model, taking talent from schools and putting them through several months of training to prepare them for production work in tech services. Ravi believes that every corporation should run an eight- to 12-week apprentice program. The U.S. has largely forgotten apprentice programs, he says, but Infosys believes that talent has to be trained or created, not traded.

 

3.      More fruitful partnerships with academia. To bridge tech-talent skills in the U.S., Infosys has signed up with schools around the country, including RISD. Through this process, it has discovered the untapped potential of the community college ecosystem. Around 50 percent of students in the U.S. are enrolled in community colleges, and yet very few corporations are focused on them, said Ravi. To build a model to create a bridge for Rhode Island’s community college students to go for their four-year degree as they work with Infosys, Infosys is now in active conversation with CCRI. And the company has already hired 25 community college students and has been extremely pleased with the results. Ravi believes this program is going to be a game-changer that can be replicated nationally for community colleges.

 

4.      Employees ready for positions in globally relevant fields. In the last two decades, tech services has moved from a client-centric to a global delivery model (work is broken into pieces and sent to offshoring destinations, such as India). That has made it necessary for companies like Infosys to evolve operating and business models along with its clients, and to be able to co-create, co-innovate and be co-located. By building a tech-talent pool in Rhode Island, Infosys is training and employing the state’s residents in globally relevant fields in which their expertise will serve them both today and tomorrow.

 

5.      Impacting local communities. In its Rhode Island operations, Infosys is committed to sourcing locally—it has signed off on the Supply RI program, a statewide initiative to connect local suppliers with Rhode Island businesses. It also wants to have a positive impact on the local communities at large by investing in K-12 teachers and students. Last May, for example, the Infosys Foundation USA’s Pathfinders initiative at Indiana University-Bloomington funded training for 600 teachers from across the U.S. As it kicks off operations in Rhode Island, Infosys plans to open up the foundation to make a similarly tremendous impact on local communities.

 

Laurie White is president of the Greater Providence Chamber of Commerce. Read her other Rhode Island Inno contributions here.

Next-Generation Bio Facility Picks RI

What’s Next for West Greenwich? A New $160 Million Manufacturing Plant

 

As I’ve blogged about before, there’s no shortage of news as it relates to our burgeoning skyline in #Cranetown. But this update involves a town a bit south of the capital, West Greenwich—and it represents one of the biggest developments to come to Rhode Island yet.

 

Biotechnology company Amgen, which already employs 625 full-time workers in our state, announced this week that West Greenwich will be the location of its first U.S. “next-generation” biomanufacturing plant. Amgen’s new Rhode Island plant is set to be built on the company’s existing 75-acre campus in West Greenwich. The new $160 million facility will bring approximately 150 new manufacturing jobs (with the possibility for up to 300)—as well as hundreds of construction and validation jobs—to the state. Besides providing further opportunity in highly skilled manufacturing, Amgen’s decision helps build Rhode Island’s resume as a leader in life sciences.

dna-308919_1280 (1).png

 

Based in Thousand Oaks, California, Amgen opened its first next-gen facility in Singapore in 2014 and will model its R.I. facility after that one. This new plant will require a smaller-than-ordinary footprint and offer greater environmental benefits, including reduced consumption of water and energy and lower levels of carbon emissions.

 

This facility will truly be the first of its kind in the U.S.

 

Manufacturing has always been a core part of our DNA in Rhode Island, and we are proud to be at the forefront of reinventing manufacturing and bringing the industry into the modern age, as the Industrial Revolution did 200 years ago. With Amgen and hopefully other facilities following suit, Rhode Island’s momentum in innovation won’t be slowing down anytime soon.

 

According to Appleseed, an economic analysis firm, the project should add $3.7 million in net revenue to the state over the 12-year commitment period. As the 24th company to have expanded or landed in the Ocean State since 2015, it serves as more proof that Rhode Island is open for business and continuing to attract innovative new developments and opportunities in Providence and beyond.

  

To hear more about Rhode Island’s economic recovery story (in its business leaders’ own words), read our blog post about the event the Greater Providence Chamber of Commerce and the Providence Foundation recently hosted.

Why RI: Businesses Are Taking Off ---Thanks to the Recent Expansion of T.F. Green Airport

The recent announcement by Gov. Gina Raimondo that Air Canada will begin round trip service from Providence to Toronto -- the latest in a flurry of new economic developments in Rhode Island  -- was an exciting one to witness. We were at T.F. Green to greet Air Canada dignitaries and officially welcome them to the nation's premier medium-sized airport. It's the kind of work we have been doing for nearly a century. Whether we are advocating for entrepreneurs or making business to business connections among our members, we have an expansive portfolio or activities.

Gov. Gina Raimondo and Rhode Island dignitaries welcome Air Canada to the Providence market, with nonstop flights beginning soon.

Gov. Gina Raimondo and Rhode Island dignitaries welcome Air Canada to the Providence market, with nonstop flights beginning soon.

Back in the late 1920s, the Greater Providence Chamber of Commerce worked with the state legislature to establish an airport in Rhode Island because we recognized early on that air transportation was essential to our community’s long-term economic vitality—earning Providence the moniker of the “Southern Gateway to New England.” And we’ve never stopped advocating for the continued expansion of what is now T.F. Green Airport to provide greater amenities with each passing year. Fast-forward to present day, and we now have a bustling transportation hub that will only continue to grow and benefit Rhode Island’s thriving business community. Passenger travel in and out of Providence grew by 7.8 percent in 2017 over the prior year.

Already the T.F. Green Airport offers nonstop trips to 34 cities. There are now year-round, nonstop flights to Europe, and they are among the cheapest trans-Atlantic flights offered nationwide. Multiple carriers are competing to offer flights from T.F. Green, and airfare prices have dropped as a result. In the past year alone, four new airlines have been introduced to the Warwick hub, including Norwegian Air. And just a few short weeks ago, a new 8,700-foot runway expansion was completed. This has increased service opportunities to accommodate all types of aircraft and has made destinations that were once inaccessible a travel reality.

Having these services has made Rhode Island all the more prominent as an epicenter of commercial growth, and local businesses are reaping the benefits. As I’ve often said, Rhode Island’s accessibility is one of its best-kept secrets. By expanding T.F. Green, we’re trying to let the greater business community in on something we’ve known for years.

Rhode Island is at the crossroads of East Coast industry—just consider the density of people and businesses within a two-hour drive. It is perfectly positioned among one of the wealthiest pockets in the country. Even better, congestion is minimal, and the price point cannot be beat. An impressive talent pool has recognized all the possibilities of our intermodal transportation options, and they understand how important this accessibility is. In developing T.F. Green, we are creating opportunities to take our ever-expanding business community beyond the East Coast—not just across the country but across continents as well.

622_BRD_Air_Canada.jpg

Because of this expansion, small businesses in particular now have the ability to extend their operations into markets that were once cost-prohibitive. By expanding opportunities for Rhode Island businesses, we are investing in their growth—and making Rhode Island all the more appealing for young entrepreneurs as they look to our state as a place to grow their own ventures.

These developments have not gone unnoticed by those beyond Rhode Island’s borders. T.F. Green Airport has been ranked among the best midsize airports in the country for its convenience, and it was recently included among Condé Nast Traveler’s annual Readers’ Choice list of the top 10 airports in the United States. We’ve won back several carriers that had departed from the marketplace years ago. We’re creating a center of transport that serves a wide range of individuals who see the benefits of the expanded hub, whether they’re businesses, tourists or vacationers. Not only has the newly expanded T.F. Green Airport made the world a smaller place, but it’s also made Rhode Island a more desirable one.

Here at the Chamber, connectivity is key. By continually improving T.F. Green Airport, we’re taking our business community to a whole new level of possibilities. 

UPDATE: Software Jobs Open at eMoney

FinTech company eMoney is settling in to their new Providence home at 100 Westminster Street and quickly getting to know the local tech and entrepreneurial community.  “It’s been amazing . Everyone here has been so welcoming,” said HR Director Tessa Raum.  

Tessa shared her staffing plans with us today.  “We’re hiring! We’re looking to bring on 50 new roles by the end of 2017, and more by the end of 2019.” 

emoneypic.jpg

Software engineers and software developers are very much in demand by e-Money, with competitive average salaries. Entry level roles as well as positions with three to five years’ experience are being offered.

The company builds software as a solution in the wealth management sector. Their vision is to “drive innovation in FinTech by creating and delivering technology solutions that help advisors and firms of all sizes achieve greater efficiency, scale, competitive edge, and growth in their businesses.”

Tessa described the culture at eMoney as “Google-like,” with strong emphasis on work/life balance. “We’re serious and passionate about our business. We want our talent to love the people they work with and to add value to our clients.”

eMoney  has been in business for 17 years with 455 employees in LaJolla, California and Philadelphia, Pennsylvania. The Greater Providence Chamber of Commerce and our partners at Commerce RI have been working with company’s human resources executives in Providence to help link them with local talent from our preeminent colleges and universities. The opportunities are diverse and exciting. 

To learn more about the jobs now available in Rhode Island, check out their hiring site here.