I’m a huge fan of Rhode Island. Growing up in a small, close-knit part of the world such as Northern Ireland drew me to the smallest state in the U.S., and after living here since 2012, I’m convinced the spotlight on Rhode Island is long overdue. The Southern Gateway of New England deserves a place on the global stage.
As an economic-development professional, I have spent 15 years representing Northern Ireland – the smallest region of the United Kingdom – and encouraging foreign direct investment from U.S. companies into that corner of the world, instead of larger cities such as Dublin and London. Though Northern Ireland has its fair share of superlatives – including being the No. 1 region in the world for fintech foreign direct investment and the No. 1 international region for U.S. cybersecurity investment (according to Financial Times fDi Markets 2020) – it may not automatically appear a logical business choice.
The reaction from the business community is often one of surprise when Northern Ireland pops up in the news or a major new investor is announced. I’ve had to explain fairly regularly that Northern Ireland’s capital city is Belfast and not Dublin, you can’t drive to London from there because the Irish Sea would get in the way, English is the primary language, and the news footage you saw in the 1980s is not how things are now. I’ve even had to reiterate that there are potatoes now, 175 years after the Great Famine.
It seems to me that Rhode Island shares similar challenges. Sandwiched between Boston and New York, the Ocean State has struggled at times to carve out its own unique niche.
Like Northern Ireland, the state’s past is filled with industrial heritage and colorful characters, and both places have economies that are equal parts smarts and culture. Rhode Island is home to the renowned Rhode Island School of Design, Johnson & Wales University and Brown University. Providence has one of the most vibrant public art scenes in the world and boasts the most restaurants per capita in the country.
I’ve seen it happen in my homes here and overseas.
Northern Ireland is home to Queen’s University, a member of the Russell Group (the U.K.’s Ivy League equivalent), and Ulster University. Belfast and Derry~Londonderry have long set art and music trends – the punk scene flourished in the 1970s and 1980s. One of the most successful TV shows in recent history, “Game of Thrones,” used Northern Ireland to serve as the real-life Winterfell, “the North” in Westeros.
What N.I. and R.I. also have in common is the scrappiness that comes from being perceived as the outlier – the small but mighty competitor who is hungrier than those who get complacent because they’re used to winning.
This attitude has resulted in truly novel models for economic development. Rhode Island has introduced the Anchor Institution Tax Credit to incentivize companies already here to bring in investment from organizations in their supply chain. This and other policy overhauls have earned the state the nickname “The Comeback Kid,” scoring major relocation wins from Johnson & Johnson, Virgin Pulse Inc. and General Electric Co., along with a home-grown tech scene.
Northern Ireland competes by offering the unique Assured Skills program, which offers 100% free training and recruitment resources to investors, ensuring that when a company sets up there, it has a talent pipeline trained for its specific needs. Companies such as Aflac Inc., Deloitte Touche Tohmatsu Ltd., Microsoft Corp. and PricewaterhouseCoopers have taken advantage of this benefit.
As the global economy begins to rebound from the effects of the pandemic, these types of resourceful and creative solutions will be crucial for attracting jobs and investment to any location. R.I. Commerce Corp. is a spirited, hungry organization, and I have no doubt they’re up to the challenge of helping rebuild the local economy, similar to Invest Northern Ireland.
Not many places offer talent and vision combined with a tight-knit, hometown atmosphere, not to mention stunning Atlantic coastal views. For companies making their next move, my message is simple: you can win big by thinking small. I’ve seen it happen in my homes here and overseas.
Niamh Perreault is vice president of inside sales and market intelligence for the economic-development agency Invest Northern Ireland – Americas. She is based in Providence.
