Rhode Island’s Economic Development Corporation is engaged in a campaign to lure Massachusetts companies to Rhode Island, called Mass Exodus. It is a promotional effort to entice out-of-state companies to consider Rhode Island because of its quality of life, lower rents and other assets.
In the two or so years the program has been in operation, four companies have come to the state as a direct result of the campaign, with one of those since going out of business. EDC considers the program successful, and it very well may be that enticing three companies to move here is enough to consider the program a success.
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But there’s a flip side to the whole idea of enticing companies here, and that’s trying to find out why some companies leave.
In this issue of Providence Business News we explore that question with some companies and leading experts. Most often mentioned were high taxes, high energy costs, a less than desirable business atmosphere and an environment for entrepreneurial activity that Andries van Dam, co-founder of Brown University’s computer science department, simply calls “tough.”
As EDC moves to the next level of its Mass Exodus campaign, we’d like to see the agency develop a program to interview companies that either have decided to leave Rhode Island, or Rhode Island companies that decide to open divisions outside of the state. And, if possible, identify and interview those companies that reject Rhode Island altogether as a possible location for their business.
The information that is gathered may help develop the legislation that will make Rhode Island a more business friendly state, one that encourages entrepreneurial efforts, that will not only attract companies from out of state, but will serve to keep companies here and to encourage those that seek to expand to do so in Rhode Island.
