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LOOKING AHEAD: Josh Daly, left, co-founder of Local Return, says the retirement of manufacturers without a succession plan is a “huge economic development issue.” With him is Nancy Forster-Holt, clinical associate professor at the University of Rhode Island’s College of Business.  PBN PHOTO/ELIZABETH GRAHAM

R.I.’s manufacturing sector braces for owner exits

Economy 06/10/2026

A wave of retiring business owners is about to reshape Rhode Island manufacturing, where 80% are approaching an exit without clear succession plans. At least,...

ANOTHER WAY?: Arnold Bromberg, right, former co-owner of Benny's Inc. and the grandson of the chain's founder, helps a customer at the Providence store in 2016. The family-owned business closed the following year, in part because there was not another generation of the family ready to take over. Lt. Gov. Sabina Matos says employee ownership might have offered another solution. / PBN FILE PHOTO/MICHAEL SALERNO

Matos: Task force to offer guidance, not dictate business succession

Editor's Choice 10/03/2025

Lt. Gov. Sabina Matos is seeking to encourage employee ownership as a succession plan for small-business owners, but collaboration with the business community and...

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