INTERVIEW
Charles T. Francis
POSITION: President/Rhode Island partner of CB Richard Ellis New England; Greater Providence Chamber of Commerce board of directors chairman
BACKGROUND: Came to Rhode Island in 1972 and went to work for Boston-based Ryan Elliot & Co., eventually purchasing the company’s Rhode Island branch. Seven years ago, Francis sold the company to CBRE, a worldwide real estate firm, creating CBRE New England. Francis has served as board treasurer for the Chamber and, most recently, spearheaded the organization’s Strategic Planning Committee.
EDUCATION:Trinity College, B.S. in music. Five years in the U.S. Navy, where he reached the rank of lieutenant.
RESIDENCE: Providence
AGE: 63
As president/Rhode Island partner of CBRE New England, Charles T. Francis has one of the best perspectives on Providence. From his 14th floor office in One Financial Plaza, he has a perfect view of the city’s rebirth: Providence Place mall, relocated rivers and the construction of GTECH’s headquarters.
Now, as chairman of the Greater Providence Chamber of Commerce’s board of directors, he’s in a position to be a high-profile advocate for the local business community.
Francis, who has held the Chamber position since October, said Rhode Island has many positive things going for it right now. However, “there’s always room for improvement,” he said.
PBN: What’s the status of the Chamber’s strategic plan?
FRANCIS: We decided to do a strategic plan three years ago. It has taken two full years to develop that plan. We looked at every aspect of the Chamber and how it serves business interests in the state. We were determined with the new leadership coming in – with not only myself, but with [Chamber President] Laurie White – to focus on specific issues rather than general issues. … That has resulted in a focus where our primary issue is tax reform that would make Rhode Island more competitive in the business community with our neighboring states. We have a tax competitiveness committee that is reviewing those issues now in the hopes of working with various government agencies to see how we can be effective.
PBN: So are tax incentives the only way to lure companies to the state?
FRANCIS: There [are several] things businesses consider when they make a decision to move. The point is that you can’t have one glaring problem such as our … disparate marginal tax rate at the high end of the spectrum [that] gives us a black eye immediately. We have to remember that the people who make decisions about relocating their businesses are ordinarily the highest-compensated individuals. And if they are going to be treated in a different way in other states that are more attractive, they are going to go there. That is simply not disputable. And it has resulted, in fact, in people leaving Rhode Island because of the disparate tax treatment so they could get out from under this cloud. I also believe that the Legislature and certainly the governor recognize this as a significant problem, and I am hopeful that it will be fully addressed this session.
PBN: What is in the Chamber’s legislative agenda this session?
FRANCIS: We will not only be proactive in our legislative efforts this session, but we will be – as we always have been in the past – reacting to legislation that does not fit our desired aims for the good of business. I think you will see that we’ll generate some measures to address the taxes. Secondly, you’ll see us address some measures to find a way to pool health care premium costs on a discounted basis so small business can have a better shot of being competitive. … Thirdly, there is a specific business issue that manufacturers are looking at that treats tax-loss carry-forward and carry-back provisions.
PBN: Has the Chamber increased its efforts to reach out to minority businesses?
FRANCIS: It is an absolute priority under our strategic plan. We are changing the face of the Chamber through not only public appearance … but by fully engaging the minority community. As you know from Laurie White’s visit to the Hispanic Chamber, we are looking forward to engaging any of the minority interests that want to be involved in our organization. With the Hispanic population in particular, which is growing rapidly in Rhode Island, we see lots of synergies that we can put together between the Chamber and the Hispanic community.
PBN: You have spoken in the past about developing a message for the state. What does that mean and what could be accomplished with that?
FRANCIS: One of the things that I’ve always thought is that we have too many groups doing too many things with a lot of overlap. [We are working] to streamline our efforts. One particular example of that is we are working with the Education Partnership and trying not to be all things to all people in education at this moment. The Partnership is focused on that, and therefore, we shouldn’t necessarily be focused on that. We have a close affiliation with the Providence Foundation and their work on the Interstate 195 relocation. But they are doing the heavy lifting on that and we support them in any way we can. So this is what I mean with galvanizing various organizations to stop repeating, get a message, get focused and advance Rhode Island.
PBN: How has the state’s business environment changed since you arrived here?
FRANCIS: When you consider what this city looked like when I first came here in 1972 and what it looks like today, you may as well have taken a catapult and thrown us into the 21st century. It took a long time to get here and a lot of work on a lot of people’s part. But here we are, and we’re bearing the fruit. … This is a very exciting time right now. Everything seems to be positive. There are still hurdles to overcome as we deal with education, as well as deal with revenue aspects for cities and towns and tax assessment. Sometimes in Rhode Island, we tend to look at it from the dark side rather than appreciate all of the good things we have in this very special place that we live.
