“Providence was hit hard in the Great Recession. By June 2011, the city’s unemployment rate was over 15 percent, above the national average and the highest in New England. But a positive trend recorded before the financial crisis—when the city’s Latino-owned businesses grew in number from 731 in 1997 to 2,999 in 2007—may hold promise for the future”. –by Kerry Spitzer and Sol Carbonell, Federal Reserve Bank of Boston, Spring 2012
In the 10 years before the Great Recession of 2008, the number of Latino-owned businesses in Providence quadrupled, forming a close-knit, strong, knowledgeable community of entrepreneurs.
Now, Rhode Island is harnessing the power of that community for the continued success of the community and you, the Latino business owner.
Rhode Island’s manageable scale allows connections to form easily. And those connections can multiply exponentially as our geographic positioning along one of the richest economic corridors in the world makes Rhode Island a premier locale for investment. The idea of “thinking bigger” has real world business implications, given the wide swath of resources within our state.
As the pivot point into the Northeast, Rhode Islanders also have immediate access to urban chic and farmstand fresh within an hour’s range on the GPS. The cost of living, including housing and utilities, compares quite favorably with destinations elsewhere on the corridor.
In addition to the vast network of Latino entrepreneurs, there is a wide array of RI Latino Commerce Corporation partners to assist any Rhode Island business with any challenge they may face, and the Business Navigation Center at the Commerce Corporation can connect you to these resources.
We invite you to browse this site for a hint of the resources and advantages in Rhode Island, and for more information on why to choose Rhode Island for your business, visit the Greater Rhode Island economic development website.
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