Yesterday I spoke at Bryant University’s 25th annual World Trade Day event, which focused on helping Rhode Island and New England to grow its manufacturing and exports in the international market.
As the national economy shows signs of picking up, we’re still facing some real challenges. This event explored the significant opportunities that are available in the manufacturing realm—especially advanced manufacturing, or those using cutting-edge technologies (click here for a report on advanced manufacturing in New England). Advanced manufacturers in Rhode Island are already successfully manufacturing electrical components and specialty medical devices.
Rhode Island is especially well poised to take advantage of advanced manufacturing opportunities: We have a long legacy of manufacturing success and know-how, and a burgeoning high-tech sector.
I felt a lot of optimism and excitement in that room yesterday. I share that optimism: Rhode Island has a number of existing strengths we can tap to rebuild our state’s beleaguered economy. And we made some important changes this year that will help improve the business climate this year: simplifying permitting and restructuring RI’s income tax.
If we’re strategic about economic development, we can create a strong, diverse, 21st-century economy that will create 21st-century jobs for Rhode Island’s residents—an economy that will present opportunities for generations to come.