CRANSTON, RI – (November 1, 2012) In an effort to move economic development forward in Rhode Island, Frank Lombardi, candidate for State Senate in District 26, held a business leadership summit with top executives and business leaders from the Cranston area on Wednesday October 24th, at L’Osteria Restaurant in Cranston.
“This leadership summit was a dynamic and spirited discussion about the real issues facing some of the top business leaders in our city. This meeting provided invaluable feedback from the business community. The next step is to implement change at the state level to address and improve many of these ideas,” said Lombardi
Some of the key highlights from panelists included:
1. Streamline the permitting process Entrepreneurs get a bad first impression of doing business in Rhode Island, starting with a hefty business corporation tax along with a long list of filing fees and requirements. Moving to lower costs to do business will help.
2. Cut the red tape In the past, some smart ideas on simplifying the zoning and planning process to better aid businesses failed to get support from lawmakers. The business summit expressed interest in revisiting some possible statewide initiatives and computer programs to help make doing business in Rhode Island easier. It should take days, not years for a business to get built or expand.
3. Support incubator programs along with existing business owners The ripple effects of the Studio 38 bankruptcy has led many to distrust Rhode Island’s commitment to serious entrepreneurs.In response, some strategic partnerships are popping up that show great promise. A new partnership has just been announced between Betaspring, the Greater Providence Chamber of Commerce, University of Rhode Island and Brown University, as Rhode Island’s new resource to help startups, students and aspiring entrepreneurs connect, learn and build high-growth ventures. Programs, services and incubators — just like this — can often illustrate a direct positive impact.
4. Smart tax incentives and capital for serious entrepreneurs
5. Support strengthening ethics and oversight
6. Rebrand Rhode Island Despite challenges, there are companies that are managing to thrive in Rhode Island. A smart marketing plan that highlights successful business owners could help boost the reputation of Rhode Island.
Bipartisan Business Panelists Included
Greg Porcaro-CPA-Otrando, Porcaro & Associates and Cranston resident David Soccio-Cranston –Owner Eagle Cornice, Cranston Business and Cranston resident Michael Mota-Alex and Ani and Cranston Resident Geriann DiPaolo-Toni & Guy Beauty Academy Ronald Baccala-Masello Salon Services Julie Loffredi- Consultant, Rhode Island Small Business Development Center Richard Fryburg- Sub Salve Systems Anthony Corsinetti-Hartford Paving and Materials
Visit our website for details on our next business summit.
Filed Under: Startups