By Malcolm G. Chace III
To have a vibrant community, there are numerous components that must work well.
Start with great educational institutions. They contribute so much to the community’s fabric – not the least of which is the next generation of bright, well-educated leaders.
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
Learn More
There should be a blend of local, regional and national businesses, as well as small and middle-sized companies. These fuel a community’s economic engine, and they provide a range of jobs for its citizens. They make or distribute the goods and services the community must have. And, they provide a generous portion of philanthropy for a community’s good causes, as well as volunteers who help guide its nonprofit enterprises.
A community ought to have a social conscience that makes it willing to provide care and assistance to its less-fortunate citizens, in a way that enables many of them to permanently turn their fortunes around.
And finally, a well-rounded community supports the arts and is enriched by them in return.
Providence – in fact, all of Rhode Island – is such a community. The evidence is everywhere.
Institutions of higher learning such as Brown University, Rhode Island School of Design and Johnson & Wales University, to name just a few, enrich us in numerous ways.
Tell me of another state this size that supports the arts as we do in Rhode Island. Trinity Repertory Theater, the Providence Performing Arts Center, RISD’s Museum of Art and “WaterFire Providence” are just a few examples right here in the capital city.
Of course, the state’s attributes don’t end at the city line. We have outstanding institutions of higher learning elsewhere; for example, the University of Rhode Island and its main campus in Kingston, Bryant University in Smithfield, and Roger Williams University in Bristol, which hosts the state’s only law school. In other cities, such as Woonsocket and Pawtucket, municipal leaders have revitalized their city centers with artistic pursuits and associated supporting businesses. In Warwick, the airport expansion and intermodal transportation center that will link air travel to rail service are an exciting addition to the state’s economic menu and will benefit all our residents.
The region also takes seriously its collective responsibilities. One of my favorite examples of the way we reach out to those in need is the networks of drop-in centers in Providence and Woonsocket that are designed as resources to help support families in those cities.
On the business side, I am proud to be a co-founder of Bank Rhode Island.To have a vibrant community, there are numerous components that must work well.< br>
As I mentioned earlier, a community needs a blend of local, regional and national companies. Being a local institution, Bank Rhode Island is controlled locally and its policies are set here, not in faraway executive suites and board rooms. We have a track record of doing what’s right for our shareholders and for the community we serve. We have one marketplace – and it’s right there in our name. That means we have to make the most of this market. While other, larger, national or regional companies can decide to focus their energies, talents and resources elsewhere, we must be willing to focus our complete attention here. And that’s exactly what we do, every day.
Local firms have a strong stake in the well-being of our community. When they are taken over by larger national or regional concerns, the overall level of local investment and corporate citizenship diminishes. That’s not to say we shouldn’t have the banking and other giants here as well. We should, and we do. But there’s a niche for the local player, as well. It’s important for the community’s well-being, and it ought to be preserved.
In a lot of ways, we have something very good going on right now in our state. In Providence, the skyline seems to change every day, as major new development moves ahead. We have a lot to be grateful for, and we should endeavor to take what we have and make it all the stronger. It’s why I find Rhode Island to be such a fine place to live and work.
A philanthropist and businessman, Malcolm G. “Kim” Chace III is a founder and chairman of the board of directors of Bank Rhode Island. Along with his wife, Elizabeth “Liz” Chace, Mr. Chace generously supports many of the examples he references in this article, as well as numerous others.
