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.
Governor Gina Raimondo signed an executive order Tuesday intended to improve the state’s business climate. The order requires closer scrutiny for newly proposed business regulations.
Raimondo said Rhode Island deserves its reputation for excessive business regulation. She said rules are important, but they should be in the public interest and not place unfair restrictions on business.
Governor-elect Gina Raimondo is staging an economic policy summit with 80 so-called “thought leaders” Tuesday. The event is supposed to develop ideas for improving the state’s economy.
Raimondo’s transition office declined to release an advance list of the business people and other leaders invited to the event. They’ll take part in a three-hour discussion at URI’s Providence campus. The governor-elect’s transition initially planned to close most of the meeting to the media. But the full session will now be open to reporters.
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.
House Speaker Nicholas Mattiello emerged in March with a strong hold on what is commonly called the state's most powerful political office. Following the unveiling of a probe of former speaker Gordon Fox, Mattiello won a brief succession fight and pledged a stronger focus on jobs and the economy. Mattiello sat down last week to discuss his first few months as speaker and some of the top issues facing the state, including his choice for governor and Buddy Cianci's latest comeback attempt.