PROVIDENCE – Chris Stevens, JPMorgan Chase & Co.’s Rhode Island executive director of commercial banking, predicts that 2020 will be the year of international growth for Rhode Island companies.
“Global markets present an opportunity to accelerate growth for companies both large and small, and business leaders are recognizing the importance of tapping into international markets to stay competitive and drive long-term growth,” Stevens said in a statement.
His predictions come amid results of the bank’s 2020 Business Leaders Outlook, the latest iteration of an annual survey of 885 senior executives from U.S. middle market companies. The report stated that nationwide, business leaders remain optimistic about the global economy, despite concerns over trade wars and tariffs.
Highlights from the report’s data about the Northeast specifically include:
- Fifty percent of Northeast midsize businesses are optimistic about the local economy, compared with 63% nationwide.
- Seventy-four percent of Northeast business respondents named attracting new customers as their primary focus for growth, compared with 64% nationwide.
- Sixty-six percent of Northeast respondents plan to increase personnel this year, compared with 55% of respondents nationwide.
JPMorgan Chase has opened two Chase branches in downtown Providence, as well as an office on Dorrance Street. The company plans to open a total of 12 retail branches in the state in the coming years.
Nancy Lavin is a staff writer for the PBN. Contact her at Lavin@PBN.com.
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