R. Michael Murphy | President and CEO, Dryvit Systems Inc.
1. What is your product and why have sales grown in Rhode Island? Dryvit is the nation’s leading manufacturer of exterior insulation and finish systems. … Sales for our product remain high because of the energy savings and we have developed high-performance finishes that replicate materials [such as] brick, granite, limestone, stucco and metal panels, among others. Our NewBrick product … looks just like clay brick but is one-seventh the weight and offers an insulation layer. … Providence has been slow to understand the value the product offers.
2. What are some of the drawbacks to working in Rhode Island? Explain the regulatory issue in Providence you face. It is frustrating that the city restricts the use of EIFS to upper elevations and discourages the use of [it] at all. I can think of few industries in which lighter-weight, higher-performance technology is discouraged. That is what drives product development in virtually every sector. We generally don’t see restrictions like we see in Providence in other places.
3. Is your product getting more attention because of the pressure on builders to trim costs, particularly in the Northeast? Yes. Our systems and specialty finishes create two ‘wins’ for builders. First, 40 percent of all energy used in this country heats and cools commercial buildings. Our systems lead to significant energy savings. And, second, our finishes create highly sophisticated building exteriors at less cost than if the building was brick, granite, metal panel or other heavy, costly materials. Because our systems are so lightweight, buildings can be constructed with lighter and less-costly structural steel, for example.
4. What would make Rhode Island a more inviting state for businesses to flourish? Less regulation, a more favorable business tax structure and a commitment to the governor’s Supply RI Initiative, where local suppliers have preference.
5. How have you been able to scale up in employment, and are you finding the skills you need here? We have been growing over the past year because of our NewBrick product launch and we have found the expertise to meet that demand here. More broadly, however, our industry is supported by the plastering trade, which has been challenged by older tradespeople retiring and fewer young people getting into the trade. We’re working on trade-development programs nationally.