Optimistic tone at Northern RI Chamber’s annual dinner

Raimondo points to state’s economic ‘momentum,’ Lucchino addresses future of PawSox; group celebrates recent merger

By Tim Forsberg
Posted 2/11/16

In one of the year’s largest gatherings of corporate and small business professionals, the Northern Rhode Island Chamber of Commerce (NRICC) held its 25th annual dinner at Twin River on Tuesday, …

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Optimistic tone at Northern RI Chamber’s annual dinner

Raimondo points to state’s economic ‘momentum,’ Lucchino addresses future of PawSox; group celebrates recent merger

Posted

In one of the year’s largest gatherings of corporate and small business professionals, the Northern Rhode Island Chamber of Commerce (NRICC) held its 25th annual dinner at Twin River on Tuesday, with a hopeful outlook for the state’s economic future.

“I will tell you, I feel quite optimistic about the state. Our state is getting stronger by the day, and we had a good year last year,” Gov. Gina Raimondo told the crowd of 500. “Rhode Island’s unemployment rate dropped more last year than any other state in the country. This economy created over 8,000 jobs last year, that’s more jobs than we created in a single year since the year 2000. We’re on our way, people – we have momentum, and we are on our way.”

Highlighting several projects and initiatives – such as Wexford Science and Technology’s plan to develop a million-square-foot life sciences development on the former 195 land in Providence; 11 innovation grants given to companies and universities; plans to reduce unemployment insurance taxes to make the state competitive; and three additional real estate developments in the capital city – Raimondo thanked the Chamber for its efforts.

“I was very pleased to work with all of you last year, along with the General Assembly, to pass a jobs budget. We were able to make a number of changes to make it easier and less expensive to do business in Rhode Island, and I want to thank you for your support,” she said. “If we stay on this path, we’re going to continue to grow this economy, which is what we need to do and we need to focus on higher-wage, higher-skill jobs. I can’t do this alone, the General Assembly can’t do this alone, but every single one of you all rolled up your sleeves last year and said ‘How can I help?’ … Stay in the boat with me, let’s seize on this momentum, and create these high-wage jobs to make sure people have the skills that matter so they can get jobs that pay.”

The evening was a premier event for the newly expanded Chamber, which recently grew its geographic footprint through a merger with the North Central Chamber of Commerce (NCCC), which called Johnston home for many years and also served North Providence, Smithfield, Scituate, Foster, and Glocester.

“The concept of being a regional Chamber, in order to strengthen our advocacy efforts and networking opportunities, continues with our recent announcement of the merger of the North Central Chamber of Commerce,” said John Gregory, president and CEO of the NRICC. “We’ll now play an active role in 13 communities whose combined population is slightly more than 30 percent of the state. One thing I can assure you on, the one thing that won’t change, is our passion and our commitment.”

John Taylor Jr., Twin River Casino’s chairman, used the opportunity to provide an update on the status of the casino, and provided insights into the company’s future plans.

“In truth, so many of you have been with us nearly every step of the way as we look to solidify our foothold as one of the state’s top economic generators and entertainment destinations. Midway through last year, the long awaited competition in nearby Massachusetts arrived in Plainville,” Taylor said. “I’m pleased to report that the effect to our business has been less than we originally expected. We are cautiously optimistic, it’s obviously early, but it seems like our strategy of staying close to our customers and responsive to their entertainment needs is paying off.”

Twin River, which has worked closely with the town of Lincoln, recently received approval to construct an amenity hotel, which will be attached to the casino’s north side. The project is expected to break ground in the spring, with an opening slated 12 to 18 months from commencement.

“Our major initiative for 2016 is passage of legislation known as the Tiverton Casino Bill, and ultimately a successful November ballot initiative. Its significance for this property, the town and our company is profound,” Taylor said. “The legislation provides the vehicle for state and local referendum, and the latest and probably most important piece of legislation we’ve ever introduced in our strategy to deal with increased competition in the Northeast. If approved, it will allow voters to weigh in on a simple but important question: ‘Do you favor a casino in Tiverton?’”

According to Taylor, if the answer to the Tiverton question is yes, Newport Grand will close once a new casino is built, possibly as soon as mid-2018. As has been the case with past gaming issues, the question must pass both statewide and in the town. The legislation, if passed, guarantees a minimum of $3 million annually from gaming revenues for both Lincoln and Tiverton.

Under the proposal, should gaming revenue to either town fall below the $3 million in a given year, Twin River will ask their partners with the state to make up the possible shortfall.

“We think that that’s reasonable given how important these towns are in hosting these facilities, which represent the third-largest source of revenue to state government,” said Taylor, who added that a Tiverton casino could contribute a minimum of $47 million to a possible maximum $70 million yearly to state coffers, double that of the Newport facility.

The dinner’s keynote speaker, Pawtucket Red Sox chairman Larry Lucchino, reviewed his organization’s controversial proposal to move the team to Providence from Pawtucket, and promised a changes and a dedicated recommitment to the Rhode Island community.

“I recognize that we are starting near the foot of the mountain, even digging out of a hole, one might say. We do have a mountain to climb, I recognize that, but I believe we can do it, but only if we can do it together,” Lucchino said. “It is impossible to do without the support of a unified, galvanized business community. We ask for that support and hope to demonstrate that we are worthy of that support.”

After the Providence proposal for a stadium on the former 195 land fell through, Lucchino and his associates reassessed their plans.

“This offseason, we reflected, and then we said to ourselves, ‘Let’s hit the reset button, let’s stop the rhetoric, let’s halt the public campaign, let’s put a new ballpark consideration on the back burner, let’s begin again and focus on the near term and on Pawtucket and on McCoy stadium,’ and that’s exactly what we are doing,” he said.

Pawtucket Mayor Don Grebian and Lucchino recently co-authored a letter to over 100,000 PawSox supporters, indicating the relationship between the team and local government has rebounded.

“We promise to honor four basic commitments. To us, they are the four fundamental obligations of ownership,” Lucchino said.

The commitments outlined included creating a comfortable, hospitable and intimate baseball experience for fans throughout the region, one that is second to none in Triple-A baseball.

Secondly, ownership plans to construct on-field and off-field teams that are “worthy of your support, ones that will be fan focused and in the ‘yes’ business when dealing with our fans and provide affordable family entertainment.”

Third, the team plans “to be fully engaged in the charitable and civic life of our community through our team and our revitalized foundation, thus contributing to a better, fairer, and kinder community.”

Lucchino’s fourth commitment is to “serve as a stable and productive cog in the Red Sox player development machine, to ensure long-term competitive success at the Major League level and by developing the stars of the future right here.”

“To do all of this, of course, we have to re-ignite the fires of our once passionate fan base, and we relish that opportunity. We ask that you please join us in a fresh start for 2016 and beyond. We need you very badly,” Lucchino told the audience.

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