business

Providence-based GTECH has officially changed its name to International Game Technology, after a merger with a British company of that name. Officials from IGT rang the bell at the New York Stock Exchange on Tuesday, where the combined companies began trading for the first time. IGT Vice President Bob Vincent said Providence will continue to house the company’s lottery headquarters and provide corporate support.

Business leaders are expressing concerns about Governor Gina Raimondo’s proposal to increase the minimum wage to $10.10 an hour, effective in 2016.

Laurie White, president of the Greater Providence Chamber of Commerce said she doesn't oppose the wage hike, but points out it could cause unintended consequences, especially for small businesses.

“Which would be potentially the shrinkage of hours for workers and also the potential that fewer jobs would be created,” said White.

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for our weekly business segment The Bottom Line.

This week Dave and Mark get an update on the Block Island Wind Farm project with Deepwater Wind CEO Jeff Grybowski.

When to Listen

You can hear The Bottom Line each Friday at 5:50pm.

Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. news@ripr.org  

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for our weekly business segment The Bottom Line.

  

This week, Dave and Mark talk with Anne Nolan, president of Crossroads Rhode Island.  They discuss the cost of homelessness to the state.  They also examine some of the difficulties faced by the working poor and homeless, as well as those faced by those non-profits that serve them.   

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for our weekly business segment The Bottom Line.

This week, Dave and Mark talk with Cheryl Merchant, President and CEO of Hope Global in Cumberland. They discus Governor-elect Gina Raimondo’s economic summit this week: the ideas and expectations from the business community.

When to Listen

You can hear The Bottom Line each Friday at 5:50pm.

Hope & Main

Rhode Island’s very first food business incubator opens officially Thursday in Warren.  The program, called Hope and Main, helps local culinary companies get on their feet.

Companies accepted into the non-profit program get use of three full sized industrial kitchens, for rent at below market rates.  They're located at the program’s headquarters; an old school building in Warren. The idea is to make it easier for culinary business by keeping down the high initial investment of equipping a commercial kitchen. Currently businesses are staying for their first two to three years.

Catherine Welch / RIPR

Governor Lincoln Chafee has announced that $2.1 million dollars of state and federal funding will support youth summer work experiences in a variety of industries this summer. Starting in July, more than 20 community-based organizations will provide work experience and work-readiness training to residents between 14 and 24 years old. 

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.

This week Dave and Mark talk with Rhode Island Economic Development Corporation Executive Director Marcel Valois. They discuss the EDC’s long-term and short-term plans to spark economic growth, and the agency’s future after January 1st when legislative changes reshape the agency.

When to Listen

More than 400 thinkers and entrepreneurs plan to gather in Providence later this week for the Business Innovation Factory’s ninth summit.

The head of the factory, Saul Kaplan, said new collaborations and projects come out of the summit every year. About two-thirds of the attendees come from outside of Rhode Island.

“The people that are there and the people that are in the room have an incredibly positive view of Rhode Island. They believe Rhode Island is a place where innovation can happen, so it changes the conversation," said Kaplan.

Ian Donnis / RIPR

Two start-up types were stuck searching for a taxi in the rain outside a meeting in Paris a few years back when they struck on a disrupting concept -- Uber, a phone-based app that lets users summon a car for hire in minutes with the metaphorical push of a button.

Twenty businesses in Rhode Island received grants from the state to help pay for employee training.

The Governor’s Workforce Board doled out $60,000 worth of matching grants to help businesses pay for training. Employers can either match the $5,000 grants or provide an approved internship to cut their match in half.

This round of grants will help pay for training in such areas as medical billing, software training and welding technology. The governor calls the grants ideal for small businesses.

Urban Farm Supply Store Draws Debate

Apr 15, 2013
Elisabeth Harrison/RIPR

A new farm and garden supply store on the West Side of Providence has become a source of neighborhood controversy.  Residents rallied Sunday in support of the business called Cluck!.

About a hundred people sipped coffee and munched on scones at the Sunday morning rally.  They were there to support a new store that aims to supply small growers and chicken farmers in the city.  Community member Alice Danahy says the storefront, which used to be an abandoned gas station, was an eyesore.

Made in RI: Crowns for Beauty Queens

Apr 10, 2013
Flo Jonic/RIPR

We continue an ongoing series we call “Made in Rhode Island.” It’s a look at companies that have persevered in the Ocean State despite what many view as an unfriendly business climate. Rhode Island Public Radio’s Flo Jonic caught up with a Cranston businessman whose products make dreams come true. 

When 25-year-old Ashley Hooks was named Miss Illinois USA last year the tiara placed on her head came from Dina, Inc. of Cranston.

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday it looks at business news and themes that affect local business and the public.

This week, Dave and Mark talk with Laurie White, president of the Greater Providence Chamber of Commerce.

Business Annual Reports Due March 31st

Mar 22, 2013

Rhode Island businesses have a little more than a week left to file their annual reports with the state.    For-profit businesses are required to file by March 31st each year.

This year the last day of the month falls on a Sunday.  However businesses can still file up to midnight on that day if they do so online.  The link for Annual Reports is found on the website of the Secretary of State. 

Businesses can also file by mail or in-person.

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