PBN March 31, 2023

Page 1

LOST IN EMISSIONS

FOCUS: MARKETING/SOCIAL MEDIA IN BUSINE SS

More companies turning to PR firms for marketing

SEARCH ENGINE OPTIMIZATION didn’t exist when Elizabeth Boyle Eckel started working at The Washington Trust Co. in 1991. The internet was in its infancy.

Boyle Eckel’s focus as the bank’s advertising head was on print newspaper ads. A halfpage in a Sunday edition of the Providence Journal could reach the entire state. Not anymore.

Businesses befuddled by state’s net-zero goals

SOfar, the 10 electric vehicle charging stations tucked away in the corner of the 200-space parking lot at Hexagon Manufacturing Intelligence Inc. haven’t gotten much use from the company’s employees since they were installed a year ago.

Still, Steven Ilmrud, Hexagon vice president of operations at the North Kingstown factory, doesn’t consider them a waste of money.

The company, which fabricates air bearings in the Quonset Business Park, ended up getting $80,000 worth of rebates through National Grid (now Rhode Island Energy) for installing the stations, so it cost Hexagon $30,000 in the end.

For Hexagon, the charging stations are symbolic, too, a nod to the company’s much

larger sustainability plans that include the goal of generating enough energy from renewable sources – or purchasing credits – to offset the emissions it produces at each of its two dozen factories worldwide by the end of the decade.

“Being green and socially conscious is a good business decision,” Ilmrud said. “It’s something customers are looking for and expecting out of their supply chain and their vendors.”

Other local businesses might soon have little choice but to follow suit as state mandates around emissions reductions prompt major changes to the way they run machinery, heat buildings or transport goods.

The complex world of modern marketing hinges upon advanced, digital strategy and analytics, while a 24-hour news cycle demands businesses

SEE PR FIRMS PAGE 25

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SEE NET ZERO PAGE 12 SOMETHING NEW Smash ‘N’ Splash | 6 FOCUS: INSURANCE Measures on car premiums struggle to gain traction | 22
ONE LAST THING
Where CEOs aren’t alone | 34
Robert Fiske
PANEL DISCUSSION: Harry Oakley, director of energy and sustainability at Ocean State Job Lot Inc., stands among solar panels on the roof of the company’s Johnston store. In the confusion around netzero goals, Oakley is hoping Ocean State Job Lot can lead the way for other businesses. PBN PHOTO/ELIZABETH GRAHAM
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2 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com CONTENTS www.facebook.com/providencebusinessnews @provbusnews www.linkedin.com/company/providence-business-news WHAT’S HAPPENING? SUBMIT YOUR NEWS AT PBN.COM/PBNCONNECT/ PBN
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COVER STORY LOST IN EMISSIONS Businesses befuddled by state’s net-zero goals. 1 FOR STARTERS 5Q: Andrew Gelfuso 4 Dining Out: Changes at Castle Hill 5 Spotlight: Rhode Island Restoration Inc. 6 Something New: Smash ‘N’ Splash 6 Hot Topic: R.I. cannabis sector in waiting mode 7 A Fresh Design: North Kingstown Town Hall 8 Another Look: 180-unit complex near new train stop gets initial OK 9 What’s Happening 10 Pay transparency grows; job seekers reap benefits 16 IT’S PERSONAL People in the News 28 Mackay’s Moral 29 Cyber Sessions: Jason Albuquerque 30 Guest Column: Patricia Raskin 31 Editorials and Opinion 32 One Last Thing: Robert Fiske 34 FOCUS: MARKETING/ SOCIAL MEDIA IN BUSINESS More companies turning to PR firms for marketing Increasingly, local companies and government groups, including those with in-house marketing teams, are turning to public relations consultants to handle their marketing. 1 A new way of getting funding from a crowd Small businesses and startups are starting to seek investments through alternative means such as crowdfunding campaigns to support business expansions and adaptations. 24 FOCUS: INSURANCE Medicaid renewals put state leaders on alert Following a freeze on Medicaid renewals during the COVID-19 pandemic, state officials are preparing for renewals for over 350,000 currently enrolled individuals to begin April 1. 18 Measures on car premiums struggle to gain traction Legislation has been submitted that would prohibit auto insurers from using education level, race, ethnicity, disability, occupation, income, gender, ZIP codes or census tracts to determine premiums or eligibility for coverage. 22 Lists Independent Insurance Agencies 20 Advertising & Public Relations Firms 26 SPOTLIGHT | 6 FOCUS: MARKETING/SOCIAL MEDIA IN BUSINESS | 24 THIS WEEK’S FEATURED COMPANIES Advocacy Solutions LLC 25 American Civil Liberties Union of Rhode Island Inc. 23 Anchor & Hope Wine 24 Bay State Veterinary Emergency and Specialty Services 28 Brown University 14, 18 Bywater 24 Caldwell & Johnson Inc. 14 Casali Engineering Inc. 9 Castle Hill Inn 5 Common Cause Rhode Island 25 Duffy & Shanley Inc. 25 Enotap LLC 24 Gem Plumbing & Heating Services LLC 12 HealthSource RI 18 Hexagon Manufacturing Intelligence Inc. 1 Mother Earth Wellness Inc. 7 New Harbor Group 25 New Majority Capital 24 Ocean State Job Lot Inc. 12, 25 Ocean State Veterinary Specialists 28 RDW Group 25 Regan Communications Group 25 Rhode Island Builders Association 14 Rhode Island Business Coalition 23 Rhode Island Commission on Human Rights 23 Rhode Island Energy 1 Rhode Island Infrastructure Bank 25 Rhode Island Manufacturers Association 12 Rhode Island Press Association 25 Rhode Island Restoration Inc. 6 Rhode Island Veterinary Medical Association 28 R.I. Board of Elections 25 R.I. Commerce Corp. 4, 25 R.I. Department of Business Regulation 22 R.I. Department of Environmental Management 12 R.I. Department of Transportation 9, 14 R.I. Energy Efficiency and Resource Management Council 12 R.I. Executive Climate Change Coordinating Council 12 R.I. Office of Energy Resources 12 R.I. Public Transit Authority 9, 14 R.I. Public Utilities Commission 14 Rise Above All Properties LLC 9 Smash ‘N’ Splash 6 Swissline Precision LLC 12 The Washington Trust Co. 1 University of Rhode Island 25 ZDS Architecture & Interior Design 9 FOCUS: INSURANCE | 18

Big News for Eyes: Delta Dental to Offer Vision Coverage

With the launch of DeltaVision®, Delta Dental of Rhode Island – the state’s leading dental insurer –recently added vision benefits to its growing portfolio of coverage options.

Created through a partnership with VSP® Vision Care, the nation’s largest vision benefits company, DeltaVision offers a wide range of comprehensive plans to provide members with the affordable, highquality eye care and eyewear they need.

“We are thrilled to partner with VSP Vision Care to offer this much-needed benefit here in our home state of Rhode Island,” said Delta Dental of Rhode Island Vice President, Sales & Business Relations James Kinney. “We know that many of our members are actively looking for trusted, affordable options when it comes to their vision care, and we look forward to helping these members save on the care they need.”

Why Vision – and why now?

Delta Dental of Rhode Island has focused exclusively on oral health benefits for the majority of its 50-plusyear history at the center of Rhode Island’s health community. That commitment to oral health certainly isn’t going anywhere, Kinney said, but this move into a new coverage area is in line with both a growing demand for vision coverage among employees and Delta Dental’s organizational focus on improving its members’ overall health.

The launch of DeltaVision comes at a time when the need for

75% of adults are currently in need of some sort of vision correction, and – especially as our collective reliance on “screen time” continues to increase both at home and in the office – experts expect this trend to progressively worsen in the years to come.

Proper vision care increases productivity and improves overall health…

Left untreated, eye strain and other common vision impairments can greatly impact an individual’s overall health quality of life, leading to headaches, fatigue, lapses in focus and other chronic symptoms. Add in the fact that routine eye exams can often help doctors catch and prevent serious, potentially life-threatening diseases like high blood pressure, diabetes, autoimmune disorders, thyroid diseases, and certain types of cancer, and the case for reliable, affordable care is strong.

Keeping up with vision health needs is a win for the workforce as well. Have you ever had a day where a lingering headache or itchy eyes made it tough for

you to stay focused at work? You’re not alone. In fact, VSP reports that a staggering 90% of American workers say “visual disturbances” – anything from eye fatigue, dry eyes, to untreated myopia – greatly impact their productivity and performance at work.

“It’s very clear that employees in today’s workforce need and want vision coverage for themselves and their families,” Kinney said. “And employers are smart. They understand that providing that coverage and keeping their employees happy, engaged and productive is in the best interest of their business.”

One-stop shopping for dental and vision coverage

With DeltaVision, it’s easy to offer both dental and vision benefits to your employees. One enrollment process, one account representative, one ID card for your employees, one website and customer service team, one payment.

Plus, with thousands of in-network providers -more than 200 in Rhode Island alone! -- it’s easy for employees to get in-network eye care. DeltaVision members can also get care and eyewear at popular retailers like Walmart®, Costco®Optical, Pearle VisionSM and Visionworks® and can expect to see an average of $600 in annual savings on eye care and eyewear, and even more savings on additional pairs of glasses or sunglasses, laser vision correction surgery, hearing aids, hearing aid batteries and more.

“We designed DeltaVision to give employers a range of customizable, high-quality, affordable vision options to enhance their organizations’ health benefits packages, all from a company Rhode Islanders already know and trust,” Kinney said. “High-quality vision plans are a great way to increase

www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 3
in partnership with VSP® Vision Care NEW! DeltaVision® is underwritten in Rhode Island by Altus Dental Insurance Company, an affiliate of Delta Dental of Rhode Island. Claims processing, claims service, and provider network administration are provided under contract by Vision Service Plan Insurance Company (“VSP”). Delta Dental and DeltaVision are registered trademarks of the Delta Dental Plans Association. VSP is a registered trademark of Vision Service Plan. Learn more at hrbenefits.deltavisionri.com See the Savings with DeltaVision® Source: VSP Vision Care. Comparison based on national averages for eye exams and most commonly purchased brands. Annual Vision Care Services Without DeltaVision Coverage With DeltaVision Coverage YOUR AVERAGE ANNUAL SAVINGS WITH DELTAVISION IS $600 Eye Exam $184 $10 Frame $150 $25 Bifocal Lenses $158 Custom Progressive Lenses $255 $175 Antiglare Coating $148 $85 Total $895 $295 SPONSORED CONTENT

FOR STARTERS

5Q: Andrew Gelfuso

Director,

University John H. Chafee Center for International Business

1After more than 20 years working in the international business sphere in Washington, D.C., what prompted your shift to the Chafee Center?

Working and living in the Greater Washington area was an amazing experience and one that I deeply enjoyed. When I saw the opportunity to lead the Chafee Center, it seemed like a chance to make an impact locally and leverage some of the contacts and experience that I had made globally for the state.

2When you were appointed center director, you expressed hopes of connecting the Chafee Center with global relationships you had developed in D.C. What progress have you made toward that goal?

I am working with some contacts in Washington as we plan for World Trade Day on May 31 at Bryant. … I also look forward to promoting Rhode Island as a global destination at the Select USA Trade Show, which is the largest foreign direct investment conference in the U.S.

3What are the most significant challenges you are noticing Rhode Island businesses face in international growth or

tion on the state and federal programs have found the Rhode Island companies we work with to be creative and willing to take chances to reach new markets.

4How has the resumption of in-person international trade missions impacted businesses locally?

Our trade missions are roaring back. Through the State Trade Expansion Program grants, we have been supporting local companies traveling to international trade shows to exhibit their products and working with R.I. Commerce [Corp.] to facilitate a presence at key international trade shows to expose the world to Rhode Island goods and services.

5How does your work with R.I. Commerce, and the Rhode Island State Trade Expansion Program in particular, address the needs of Rhode Island businesses, and how much funding has the STEP dispersed?

We work with R.I. Commerce to promote and manage the State Trade Expansion Program grants. These grants provide funding for Rhode Island companies seeking to expand into new international markets. ... The program has dispersed [$3.1 million] over the past 10 years. As a result of this funding, [$27 million] of export sales have been generated for Rhode Island businesses. n

PBN will include a full page next to the Veteran Employers List in the Veterans in the Workforce Focus Section. This 4-color page will be filled with company logos saluting these veteran employers. This is an excellent opportunity to utilize a small portion of your advertising or recruiting dollars to show your support of Veterans in our state.

4 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com
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MEMORIAL DAY 2022 BUSINESSES REMEMBER AND HONOR ALL WHO HAVE SERVED. QUONSETVIDEOS.COM GREYST.COM

NEWPORTERS DEBATE about “the season” during this time of the year. Even lifelong residents reluctantly admit the busy period of the year no longer begins on Memorial Day and ends on Labor Day. “America’s First Resort” is a three-season destination, and almost year-round, especially this year with the nonwinter that just officially ended.

The 2023 season is starting strong on Ocean Drive, where Castle Hill Inn, the iconic Relais & Chateaux property, has introduced new dining programs and offerings.

Reopening in late January after its annual hiatus, the restaurant announced two promotions on its culinary team: chef Lou Rossi, formerly the restaurant’s executive chef for seven years, has been named director of food and beverage, while chef Andy Taur has been promoted to executive chef.

“We really want to make our mark this year, especially within The Dining Room over the course of the next six months,” Rossi said. “We have an incredibly talented team of chefs, all of whom embody true craftsmanship. There is a lot of room for us to elevate the menus to showcase each of their talents in a bigger way as we continue to innovate and elevate the dining experience here at Castle Hill.”

One of this year’s new offerings is a prix fixe lunch menu at The Lawn, the part of the dining room closest to Narragansett Bay, where the international Ocean Race sailing competition will pass in May. The two-course prix fixe lunch includes an appetizer and entree at $40 per person. The menu will be available daily from 11:30 a.m.

DINING OUT | BRUCE NEWBURY

Changes at Castle Hill

to 3 p.m.

This may prove to be a trend others will follow. As we emerge into the new post-pandemic work world, noticeable patterns are beginning to develop of so-called office days and work-from-home days. Traffic patterns in metropolitan areas are busier during midweek days. At a destination venue such as Castle Hill Inn, lunch can offer a getaway that is suitable for both those in the nearby office parks, as well as remote workers looking for a midday change of scene or meeting place.

Korean fried chicken. There’s also “Cornbread’s” clam chowder, which is the signature recipe of the late James “Cornbread” Crookes, who was a member of the culinary team for nearly 40 years.

In addition, The Dining Room at Castle Hill Inn is introducing a limited-time Agassiz Supper Club Series of themed dinners led by a different chef on the culinary team. This 6 p.m. early-week Tuesday-Wednesday evening event points up the trend of the retro supper club revivals across the country. Castle Hill’s take is a series of three-course dinners guided by a different member of the culinary team reflecting that chef’s personal style,

The lunch menu offers a mix of favorites with chef Taur’s style woven in, such as Cacio e Pepe risotto and background and culinary passions. In April, the series wraps up with a family-style Hawaiian luau prepared by chef Elise Faria.

An Easter Sunday three-course brunch will be served from 11 a.m. to 3:30 p.m. in The Dining Room. Live music will add to the festive atmosphere. Reservations for parties of up to seven guests are being accepted. There is history and conversation starters everywhere. The property sits on 40 acres. During the walk to The Dining Room door, Grace Kelly Beach can be observed – if one does not take advantage of the valet, of course.

It may be a few weeks before beach season, but that is the point at Castle Hill Inn – one no longer has to wait for “the season,” if one ever did. n

“Dining Out With Bruce Newbury,” syndicated weekly on radio, can be heard in Rhode Island, Connecticut, Vermont and Indiana. Contact Bruce at bruce@brucenewbury.com.

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www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 5 FOR STARTERS
DISHING IT OUT: Castle Hill Inn executive chef Andy Taur preps the Rhode Island oysters with pear, kohlrabi and horseradish, a dish featured on the tasting menu for dinner in The Dining Room at the inn. COURTESY CASTLE HILL INN/ERIN MCGINN
‘We really want to make our mark this year.’
LOU ROSSI, Castle Hill Inn director of food and beverage
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FOR STARTERS

Give me something to break

SMASHING A BROKEN printer with a baseball bat can be better than therapy.

That’s what Samantha Rodriguez hears all the time from her customers, as they leave her rage room feeling lighter.

“You can feel the relief in people when they come out,” she said. “It’s a release.”

It’s one of the things she likes the most about her job as co-owner of Rhode Island’s very first rage room, Smash ‘N’ Splash in West Warwick. Rodriguez and her husband, David, opened the business in November 2022, looking for a fun, family-friendly activity to do with their three teenagers.

So far, it’s been a success, both with her family and other Rhode Islanders.

“Everyone is really excited that there’s something different to do in Rhode Island,” Rodriguez said. “It’s a fun family activity, it’s a fun date night, or a friends’ night out.”

Inside Smash ‘N’ Splash’s graffiti-decorated rage room customers can use a range of weapons – baseball bats, crowbars, hammers or golf clubs – to smash various objects in the room, from electronics to liquor bottles.

But the business also offers a “Splash Room,” where people can let their creative side out and use glowing paint to splash walls and canvases. n

Shawn McAssey, president of Rhode Island Restoration Inc. in North Providence, which has expanded to 60 employees in recent years, says the company may open a second branch in places such as Warwick, Narragansett or Newport to service more of southern Rhode Island.

Restore, repair, rebuild

FOR MANY, a winter storm means remote work and long days in bed. For workers at Rhode Island Restoration Inc., those can be some of the busiest days of the year.

Just last February, when Rhode Island saw record-setting, below-freezing temperatures, the company answered more than 200 emergency calls from Rhode Island residents who had broken pipes in their homes.

“That Sunday was crazy, nonstop calls,” said Shawn McAssey, president of Rhode Island Restoration. “We try and be out there within an hour or two to make sure everything is stabilized, and no secondary damage occurs.”

Fixing broken pipes is only one of the many services offered by the North Providence-based company. A damage restoration company, it offers emergency and nonemergency repair and renovation services for both residential and commercial spaces. Their services cover damage caused by fire, water, mold, smoke, storms, and more. Lately, the company has been expanding to do more renovation work, but 75% of its jobs still involve emergency repair.

Founded in 2002, the company has remained family-owned and locally focused, despite expanding

PRESIDENT: Shawn McAssey

TYPE OF BUSINESS: Damage restoration company

in recent years to employ about 60 people. This local focus is a big part of the company’s mission, said McAssey, who joined as president in 2016.

“We’re focusing on Rhode Island, we want to be the local choice for everyone,” McAssey said. “We’re not just a big-box store; we’re not the Walmart of the restoration industry. We’re focused on Rhode Island. We’re here for Rhode Island.”

This focus has allowed the company to leverage its local roots to attract new clients. Business grew over the years, mostly due to wordof-mouth and referral. Then, in the last few years, it really boomed.

“It was about hiring the right people,” McAssey said. “The main reason for growth is definitely just spreading the word and having a great team that does a great job. When you do that, people are going to recommend you.”

The 60-person team is made up of a variety of specialists, including carpenters, painters and technicians, that can handle cases from clean-up all the way to reconstruction. The company will

LOCATION: 1135 Charles St., North Providence EMPLOYEES: 60

also occasionally rely on subcontractors, depending on the clients’ needs.

On average, Rhode Island Restoration gets about 40 to 50 new jobs each week. Their emergency services are offered 24/7, with employees answering calls at all hours of the day. Projects vary in size and scope, from small mold-related repairs to large reconstructions. House fires, for example, tend to lead to long-term projects that can last up to two years.

“It’s never easy to sustain a loss to your home,” McAssey said. “So, we try to make it as smooth as possible for homeowners.”

The bulk of the work – about 80% – rotates around residential buildings, with a smaller percentage of commercial projects, but McAssey said the company is trying to work more with state-run projects and school systems. It’s only one of the areas where Rhode Island Restoration is hoping to expand.

“A lot of our work is in central and northern Rhode Island,” McAssey said. “We want to reach out to southern Rhode Island a little more and possibly open up another branch in Warwick, Narragansett, Newport or somewhere around there.” n

YEAR FOUNDED: 2002

ANNUAL SALES: WND

6 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com
SOMETHING
NEW SPOTLIGHT
BRANCHING OUT: PBN PHOTO/MICHAEL SALERNO FAMILY FUN: Samantha Rodriguez, center, is the co-owner of Smash ‘N’ Splash, a new rage room in West Warwick. Her daughter Nayliana Rodriguez, left, and niece Alyssa DePina work as assistants at the business. PBN PHOTO/MICHAEL SALERNO
Restoration
company looks to expand BY

R.I. cannabis sector in waiting mode

NEARLY FOUR MONTHS after the legalization of the recreational use of cannabis, the fledgling industry in Rhode Island is being stifled by delays in appointing a regulatory board and fierce competition from out of state, some observers say.

Under the Rhode Island Cannabis Act signed into law last May, the Cannabis Control Commission will be an independent panel of three individuals overseeing “the regulation, licensing and control of adult use and medical cannabis.”

Sen. Joshua Miller, D-Cranston, who sponsored the Senate bill, says he initially had hoped to have a commission created by the end of the 2022 legislative session. But a year later, he’s still waiting.

“I can say I am disappointed with the current timeline,” Miller told Providence Business News.

Without the commission, none of the 24 new licenses can be issued and there can’t be any changes to current regulations. Only nine locations that had previously held medical marijuana dispensary licenses can sell legalized recreational marijuana.

The delay is also putting on hold the social equity program.

“Those who are interested in the social equity licenses are very anxious to get going and want to apply,” Miller said.

Miller says he is not sure what is causing the delay. According to the act, House Speaker K. Joseph Shekarchi is responsible for submitting names of three potential appointees for Gov. Daniel J. McKee to consider. McKee can choose one of those people and make two of his own appointments, which are then forwarded to the Senate for confirmation.

Shekarchi spokesperson Larry Berman says the speaker submitted three names last June, and the act

says McKee had 40 days from the day the law went into effect to submit his candidates to the Senate. That hasn’t happened.

Before the names could be submitted, a background check must be done on each candidate. Olivia DaRocha, McKee’s press secretary, said the check is an “extensive process involving coordination with the state police” and that the governor’s selections will be announced once the background check is completed.

DaRocha did not respond to requests for more details, such as if McKee has selected any appointees.

In the meantime, the growth of the industry has been curbed. The R.I. Office of Cannabis Regulation, led by Matthew Santacroce, is handling the licensing and oversight of the businesses. He said the office plans on “advising and supporting the commission during this rulemaking while continuing to carry out these duties.”

Many of the cities and towns

that had hoped to increase revenue through a local sales tax are left waiting.

And even current license holders are affected by the delay. The Cannabis Control Commission will set regulations for the advertising and marketing of the products. But until it’s established, cultivators and dispensaries are limited in their advertising opportunities, said Joseph Pakuris, co-owner of the dispensary Mother Ear th Wellness Inc. in Pawtucket.

“Sales have been steady,” he said. “But if we could advertise, I think our sales would double.”

Without the ability to advertise the products, Rhode Island cannabis businesses continue to trail behind ones located in Massachusetts, which are advertised on billboards along the state border. And despite recreational marijuana becoming legal months ago, many residents in the Ocean State are still unaware of this change.

“There’s a big part of the state of Rhode Island that doesn’t realize that cannabis is legal because there’s been no advertising,” Pakuris said. “Massachusetts advertises their cannabis businesses on our billboards, so we would like the same.” n

www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 7 FOR STARTERS
HOT TOPIC
1-800-298-2212 | Coastal1.org Coastal1 Credit Union is federally insured by the National Credit Union Administration. Get personalized, hands-on service to guide you in choosing the right products for your business. • Checking accounts. • Online cash management. • Merchant services. Julie Larivee AVP/Business Banking 401-729-4087 BusinessBanking@coastal1.org
‘I can say I am disappointed with the current timeline.’
JOSHUA MILLER, Cranston state senator

FOR STARTERS | A FRESH DESIGN

North Kingstown Town Hall 80 Boston Neck Road, North Kingstown

Building owner and tenant: Town of North Kingstown

Architect: DBVW Architects Inc.

Developer/General contractor: Tower Construction Corp.

Cost: $4.3 million

Use: The historic North Kingstown Town Hall, first built in 1888 in the town’s Wickford village, received a long-awaited refurbishment and construction of a new two-story addition. Town operations initially vacated the building in 2016 due to the structure having several major code violations. Most town offices were moved to a municipal building at 100 Fairway Drive. Construction and refurbishing began in June 2021, and the project was completed in September 2022. Along with new offices, the renovated town hall also has a new state-ofthe-art Town Council chambers room on the second floor to hold town meetings.

8 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com
NEW ADDITION: Along with renovating the main building’s interior, a two-story addition was constructed and attached to North Kingstown Town Hall. GATHERING PLACE: North Kingstown Town Hall’s second floor was refurbished to contain a state-of-the-art Town Council chambers to hold various town meetings.
BEFORE
CONFERENCE CALL: A conference room is part of North Kingstown Town Hall’s two-story addition, as well as a bright new stairway, seen at right.
BEFORE BEFORE
BEFORE PHOTOS: COURTESY TOWN OF NORTH KINGSTOWN AFTER: PBN PHOTOS/ELIZABETH GRAHAM

The Increasing Importance of Project Management Within Life Sciences

Project management is a major challenge in modern life sciences organizations. In a field where mistakes can quite literally cost lives, every detail matters.

Project management in the life sciences typically addresses one or more of four main goals:

1. To improve a process, like getting therapies to patients faster

2. To launch a product, like a treatment for a disease

180-unit complex near new train stop gets initial OK

(Editor’s note: A version of this story was first published on PBN.com on March 22.)

PAWTUCKET – The City Planning Commission has approved the master plan for a 180-unit apartment building next to the newly opened Pawtucket-Central Falls Transit Center.

The six-story project, located at 258 Pine St., will also include two commercial units. The commission heard plans for the development during a joint meeting with the Central Falls Planning Board on March 21.

The lot once housed a chemical company, but a fire damaged the industrial complex in 2018 and it was later demolished. The land was then put under the receivership of the court-appointed special master, attorney John Dorsey. Following a request for proposals, the property was sold to Frank Cruz of Rise Above All Properties LLC for $1.7 million.

The new plan, presented on March 21 by architect Eric Zuena of ZDS Architecture & Interior Design and engineer Joseph Casali of Casali Engineering Inc., will bring a mix of market-rate apartments and workforce housing to the area, with 180 units of mostly studios and onebedroom apartments – with a few two-bedroom apartments. The two commercial spaces, respectively 5,000 and 2,500 square feet, are likely to bring food and dining options.

The development would be located immediately south of the transit center, which includes a newly constructed train stop along the Massa-

chusetts Bay Transportation Authority commuter rail between Boston and Providence. Since its debut in January, both the train station and the 10 R.I. Public Transit Authority bus lines have seen steady traffic, with about 400 daily train boardings, according to the R.I. Department of Transportation

“It’s a transformational project,” Zuena said during the meeting about the apartment building. “Being in the TOD [transit-oriented development] really gave us the opportunity to think outside the box. And we’ve done exactly that.”

The building will come with 77 parking spaces, below the maximum allowed 83 spaces in the area. And both Zuena and Casali said they foresee many of the tenants relying on the public transit in the area, including the commuter rail and bus lines connected to the new transit center, which will make the number of available parking spots sufficient.

The project, which is estimated to cost up to $65 million, will be split into two phases, each lasting approximately 12-18 months. The applicant also asked for seven variances and two permit waivers. All were granted.

The property, spanning 2.25 acres, is within what is known as the Conant Thread District in Pawtucket. The area has been receiving a lot of attention from developers in recent years, in particular in light of the opening of the transit center. n

3. To deliver timesensitive results, like an urgent vaccine

4. To implement new technology, like a machine that improves patient quality of life

Developing new pharmaceutical and medical device products is an extremely complex and highly regulated process. Specialized, highly trained project managers play an essential role in shepherding valuable products through the pipeline and bringing them successfully to market. Even when there is a well-travelled regulatory path, the complexities and unknowns of developing a unique drug or device is a continual and ever-changing process. Changes in regulatory, commercial or internal financial environments and unexpected results from clinical studies can require a rapid change of course.

Industry professionals with project management acumen enable their teams to take products to market faster, bring clinical benefits to physicians and patients and deliver financial benefits to their companies and shareholders. Employees are beginning to choose project management as a career path at the beginning of their life sciences careers, rather than later in their professions. This speaks to the higher visibility and perceived value of project management in life sciences now, than in the previous decade.

Project management should fit the company, not the other way around. It’s a valuable tool, but still just a tool, which is available to best serve the company effectively. Analyzing the needs of the company will help to ensure that.

ABOUT RI BIO: As the Professional Trade Association and Hub for Life Sciences in the greater RI area, RI Bio advances the industry and professionals through education, collaboration and advocacy. Learn more about our Project Management Training on our website or contact us at connect@ri-bio.org.

www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 9
PBN.COM | ANOTHER LOOK 225 Dyer St., Providence, RI 02903 | 401.400.5499 | ri-bio.org
ON DRAWING BOARD: A rendering of the 180-unit apartment complex proposed for 258 Pine St., Pawtucket, near a new train stop. COURTESY ZDS ARCHITECTURE & INTERIOR DESIGN

EDITOR’S CHOICE

Fall River Mayor Coogan to speak at Chamber luncheon

ONE SOUTHCOAST CHAMBER of Commerce will hold a luncheon featuring Fall River Mayor Paul Coogan. The mayor will deliver the annual State of Business address detailing past accomplishments, goals, planned policies and objectives for the city and its developing business community. There will also be a plated luncheon.

WEDNESDAY, APRIL 5, 11:30 A.M. TO 1:30 P.M. $50

McGovern’s, 310 Shove St., Fall River.

INFO AND REGISTRATION: bit.ly/3jYNGmC

Home decor

THE 73RD ANNUAL Rhode Island Home Show will feature six shows in one, including the 10th Annual Energy Expo, the 10,000-square-foot Garden Experience, the new Inspiration Showcase, Art of the Ocean State, and the Specialty Rhode Island Flower Show. Additionally, the weekendlong show will feature hundreds of home-related exhibitors with trends, services and ideas in home improvement, remodeling, interior design, decorating, landscaping and more. FRIDAY, MARCH 31, THROUGH SUNDAY, APRIL 2. $12/adults; $10/ senior citizens; Free/children ages 15 and younger R.I. Convention Center, 1 Sabin St., Providence.

INFO AND REGISTRATION: ribahomeshow.com

Better mindset

THE GREATER PROVIDENCE Chamber of Commerce will hold a workshop titled “The Networking Mindset: Enhance Your Marketing Skill Set.” Chamber President Laurie White will lead the discussion on what type of marketing works for your business and what some of your marketing pain points are. The event also will cover how organizations can enhance their brand awareness

to drive engagement among their customers, prospects and potential partners.

TUESDAY, APRIL 4, 8:30-9:30 A.M. Free Online.

INFO AND REGISTRATION: bit.ly/3KaENkF

Learning about self-promotion

THE CENTER FOR WOMEN & Enterprise will hold a virtual seminar titled #IAmRemarkable. The workshop will share data and research regarding self-promotion and unconscious bias, go through the main exercise to help you articulate your achievements and practice self-promotion, and have a discussion and share take-home exercises. The session is in collaboration with the Women’s Fund of Rhode Island.

TUESDAY, APRIL 4, 2-3:30 P.M. $90 Online.

INFO AND REGISTRATION: bit.ly/3ydTCvA

Interested in having your businessrelated event included in What’s Happening? Contact PBN Researcher James Bessette at (401) 680-4838 or Research@PBN.com.

2023 RHODE ISLAND SALUTE TO SMALL BUSINESS

The Rhode Island District Office – SBA Salute to Small Business will feature the 2023 RI Small Business Week Awardees.

Feature your company in this special section, hyper-targeted to reach the affluent, influential and active PBN audience in Rhode Island and Bristol County, Massachusetts.

In addition to being included in the April 28 issue of PBN, this special section will be distributed to over 400 attendees of the SBA Small Business Week awards luncheon on May 3, 2023.

Publication Date: Friday, April 28, 2023 | Deadline: Wednesday, April 19, 2023

10 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com FOR STARTERS | WHAT’S HAPPENING
STATE OF THE CITY: Fall River Mayor Paul Coogan will be the guest speaker of the One SouthCoast Chamber of Commerce’s State of Business lunch event on April 5 at McGovern’s in Fall River. COURTESY ONE SOUTHCOAST CHAMBER OF COMMERCE
PLATINUM SPONSOR ADVERTISING OPPORTUNITIES: SECTION SPONSORSHIPS AND DISPLAY ADS. FOR MORE INFORMATION CONTACT YOUR ACCOUNT MANAGER OR ADVERTISING@PBN.COM | 401-680-4800

Establishing connections

THE CENTRAL RHODE ISLAND Chamber of Commerce will hold a networking event as part of its Winter Networking Series, hosted by the Crow’s Nest restaurant. The event will offer local business professionals and entrepreneurs the opportunity to build connections with one another in a relaxed setting. Admission includes a single drink ticket and appetizers. The event is limited to 50 attendees.

TUESDAY, APRIL 4, 5-7 P.M. $15/members; $25/nonmembers Crow’s Nest, 288 Arnolds Neck Drive, Warwick.

INFO AND REGISTRATION: bit.ly/3IRKPUZ

Education discussion

ONE SOUTHCOAST CHAMBER of Commerce will hold a summit featuring Edward Lambert, executive director of the Massachusetts Business Alliance for Education. He will discuss the imperative of preparing students for future college and career success when combined with the workforce challenges that exist now and are expected to grow. The summit will present best practices and strategies that are showing promis-

ing results for students and helping businesses build a stronger and more diverse talent pipeline.

THURSDAY, APRIL 6, 8-9:15 A.M. Free Online.

INFO AND REGISTRATION: bit.ly/3L0umAw

Talking HR

THE NORTHERN RHODE ISLAND Chamber of Commerce will hold an HR Roundtable training discussion titled “Reasonable Suspicion Training for Managers and Supervisors.” The training session aims to equip employers and human resources professionals with the tools and resources they need to proactively address substance use issues in the workplace. Topics include responsibilities of a manager or supervisor to promote a healthy and safe work environment, constructive confrontation with a potentially impaired employee, and legal considerations regarding confidentiality, medical inquiries, drug testing and “last chance” agreements.

THURSDAY, APRIL 6, 8:30-10:30 A.M. $10/members; $20/nonmembers

Big Brothers Big Sisters of Rhode Island, 188 Valley St., Suite 125, Providence.

INFO AND REGISTRATION: bit.ly/3Jhy3kd

WHAT’S HAPPENING | FOR STARTERS

Building new relationships

THE SOUTHERN RHODE ISLAND Chamber of Commerce will hold a First Friday Coffee networking event, hosted by the Rhode Island Blood Center. The event will invite local business individuals to meet and gather to create business relationships with one another. Coffee will be served.

FRIDAY, APRIL 7, 8-9 A.M. $5/members; $10/nonmembers Rhode Island Blood Center, 14 Woodruff Ave., Narragansett.

INFO AND REGISTRATION: bit.ly/3SUUpev

Getting started

THE RHODE ISLAND Small Business Development Center will hold a workshop offering five steps on how to finance your business. Workshop leaders will walk attendees through how to borrow, as well as provide information on how to obtain financing for your business. There will also be networking and a light reception with drinks and food.

WEDNESDAY, APRIL 19, 4-7 P.M. Free Cape Verdean American Community Development Center, 120 High St., Pawtucket.

INFO AND REGISTRATION: bit.ly/3yeAWfp

Chamber celebration

THE TAUNTON AREA Chamber of Commerce will hold its 106th annual Meeting and Awards event. The ceremony will include the presentation of the Annual Business Awards, an Educator of the Year award and recognition of the recipients of the Charles E. Volkmann Future Leaders Scholarship. Award recipients and keynote speaker will be announced soon.

THURSDAY, APRIL 27, 11:30 A.M. TO 2 P.M. $65/members; $80/nonmembers Clarion Hotel and Conference Center, 700 Myles Standish Blvd., Taunton.

INFO AND REGISTRATION: bit.ly/41Qh2ET

UPCOMING PBN EVENT: The 2023 Health Care Summit and Health Care Heroes Awards hybrid event will be held on Thursday, April 6, from 9-11:30 a.m. at the Providence Marriott. For more information, visit PBN.com. For sponsorship opportunities, contact Advertising@PBN.com.

www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 11

EMISSIONS

NET ZERO

CONTINUED FROM PAGE 1

The state’s Act on Climate law, passed in 2021, calls for incrementally cutting Rhode Island’s greenhouse gas emissions over the next 27 years, with the goal of hitting net zero by 2050. Though praised by lawmakers and environmental advocates as a landmark commitment to climate resiliency and economic development, the details – such as who needs to do what, how and with what money – are still being developed.

Meanwhile, preliminary modeling suggests the state might miss its upcoming target for 2030 –reducing emissions by 45% compared with the 1990 baseline.

And business leaders are anxiously waiting for what they believe might be an onerous – and expensive – set of changes to their operations.

“There is nothing in [the law] telling us how we are going to do this,” said David M. Chenevert, executive director of the Rhode Island Manufacturers Association. “We aren’t against what it stands for. But they have to come up with a way to cover those costs.”

Take the Cumberland machine shop, Swissline Precision LLC, which Chenevert used to own. It’s a 36,000-square-foot facility with 70 electricity-devouring computerized numerical control machines.

Chenevert looked into buying solar panels, but he determined they weren’t a good fit. And with surging power costs and snarled supply chains plaguing operations, Chenevert couldn’t fathom taking on the cost – and headache – of a project such as converting to electric heat pumps.

Not that anyone has asked him. Chenevert says no one from the R.I. Executive Climate Change Coordinating Council, a consortium of state agencies known as EC4 charged with laying out a plan for reaching the state emissions targets, has reached out to the manufacturing association.

“We’re one of the largest sectors in Rhode Island,” Chenevert said. “We employ a ton of people, and we are a huge consumer of electricity. But I’ve not seen any information about how this affects us.”

‘A HUNDRED HOOPS’

Terrence Gray, chairman of the EC4 and director of the R.I. Department of Environmental Management, acknowledges that some in the business community such as Chenevert are frustrated.

“We know we need to have better dialogue with the business community,” Gray said. “Not because they were complaining to us, but because their voices have not been reflected in the comments and participation.”

The council has spent the last year gathering input through more than two dozen public workshops and 400 written comments, analyzing spreadsheets of carbon emissions data and creating scenarios of how different actions – such as converting to highly efficient electric heat pumps – could decrease emissions. The result is a 114-page plan published in December that is intended to act as a baseline, updating 2016 data and defining in broad terms the main areas of focus for the Act on Climate.

“This wasn’t meant to be a giant directional document,” Gray said. “If we want to make this happen,

READY

we need to have good data, and a good understanding of where we’re at now.”

That baseline understanding is also critical to determining the best ways to spend the millions of dollars of federal funds being funneled into state coffers from COVID-19 relief aid and the Inflation Reduction and Infrastructure Investment and Jobs acts.

The $100 million in federal funds headed to the R.I. Office of Energy Resources marks the largest tranche in agency history, says Christopher Kearns, interim energy commissioner.

Nearly two-thirds of that funding is reserved for energy efficiency rebates for homeowners, but OER will also oversee programs for businesses, such as a $25 million heat pump incentive program included in the state’s fiscal 2023 budget. Gov. Daniel J. McKee proposed another $5 million in his fiscal 2024 budget to help small businesses pay for energy efficiency improvements.

How these programs might work is still being ironed out. But Kearns was confident the funds will help make “significant” progress in key emissions areas such as residential and commercial heating and transportation, which accounted for 30% and 40%, respectively, of state greenhouse gas emissions in 2019, the most recent year for which data is available.

Electricity is the other big contributor to gas emissions, responsible for just under 20% of state emissions.

Some businesses have balked at the prospect of replacing furnaces with energy efficient electric heat pumps.

Joseph Andrade, president of home and commercial services for Gem Plumbing & Heating Services LLC, didn’t think the state’s $25 million heat pump incentive program would go far, given the $300,000 heat pump projects he’s completed for some Rhode Island firms.

“Especially not if they make you go through a hundred hoops to get it,” he said.

Indeed, understanding where to go for help (federal

or state government or the utility company itself?) or how the finances work (grants, rebates, tax credits?) is enough to confuse many business people. Small-business owners often don’t have the time or staff to figure it out.

“Is the money out there? Yes. Is it easy and simple to get? Right now, it’s not,” said Harry Oakley, director of energy and sustainability at Ocean State Job Lot Inc. and chairman of the R.I. Energy Efficiency and Resource Management Council, which is responsible for overseeing Rhode Island Energy’s energy efficiency program planning and budgeting.

Oakley has expertise in helping his company and ratepayers across the state piece together the puzzle. There’s a lot of confusion, and not a lot of coordination right now, he acknowledges. But he’s optimistic.

“We’re starting to put money in the right places,” he said, referring to the $4.5 million McKee has proposed for EC4 in his fiscal 2024 budget, which would be the first dedicated funding for the council.

LEADING THE WAY

Oakley also thinks Job Lot can be an example for other businesses on sustainability.

The North Kingstown discount retailer in 2021 partnered with solar developer Ecogy Energy to put together rooftop solar panels on 10 of its Rhode Island stores. Once finished later this year, the 2.5-megawatt solar portfolio will be the largest rooftop array participating in Rhode Island Energy’s Renewable Energy Growth Program, which offers long-term, fixed-rate tariffs to incentivize green energy projects.

Job Lot doesn’t actually get the energy credits –they go to the solar developer – but makes money for leasing its roof to Ecogy.

The company also gets to count the power from the solar panels toward its net-zero emissions goal. Job Lot plans to publish an action plan later this year outlining how – and when – it will achieve net-zero emissions, tentatively aiming for 2050, according to Oakley.

In 2021, the company achieved net-zero waste, meaning it recycles more waste than it adds to landfills each year.

Like Ilmrud, Oakley sees corporate emissions targets as philosophically and financially beneficial.

“We feel we have a responsibility to be

12 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com CONTINUES ON PAGE 14
‘Is the money out there? Yes. Is it easy and simple to get? Right now, it’s not.’
HARRY OAKLEY, Ocean State Job Lot Inc. director of energy and sustainability and R.I. Energy Efficiency and Resource Management Council chairman
TO TALK: Terrence Gray, director of the R.I. Department of Environmental Management and chairman of the R.I. Executive Climate Change Coordinating Council, acknowledges that officials need to better communicate with the business community about what's ahead on carbon emissions restrictions.
PBN PHOTO/MICHAEL SALERNO

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PATRON SUPPORTERS

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BayCoast Bank

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EMISSIONS

CONTINUED FROM PAGE 12

providing a positive impact to the communities we serve,” Oakley said. “It enhances the idea of a brand that customers can trust.”

Leading by example is also the state’s approach.

In February, the R.I. Department of Transportation became the first state agency to fully convert to LED lightbulbs, including changing out more than 9,000 streetlights that will save an estimated $1 million in annual electricity costs and cut 55,000 metric tons of carbon dioxide emissions, according to the state.

Meanwhile, the R.I. Public Transit Authority is gradually replacing diesel-powered buses with electric vehicles. The quasi-public agency will be launching its first, fully electric fleet this spring along the R-Line between Providence and Pawtucket. Another $23 million federal grant will pay to electrify the 25 buses serving Aquidneck Island by the summer of 2024.

At $1 million a bus, it’s not cheap. Especially with 75% of the 200-bus fleet still running on diesel, according to Scott Avedisian, RIPTA CEO.

“These are very expensive, and it’s not easy to just get rid of a bus and buy a new one,” Avedisian said. “We’re applying for all sorts of grants and moving forward cautiously based on the funding we have available.”

RIPTA hasn’t set a goal year for reaching netzero emissions, and it might end up incorporating other types of technology such as hydrogen fuel-cell-powered buses, according to Sarah Ingle, RIPTA’s director of long-range planning.

RIPTA buses only account for a tenth of a percent of state emissions, which is why the transit agency is also focused on wooing people out of their cars and onto buses to make a bigger dent in state greenhouse gas emissions.

INCENTIVES VS. PENALTIES

But reaching net zero will also require the private sector to get on board – with electric vehicles, solar panels, heat pumps and even more-efficient thermal insulation.

Right now, most state policies and programs are incentive-based. At some point, there might have to be penalties, not just rewards, Gray says.

“We have aggressive targets, and we know there will be some folks that lag behind that need a little push,” Gray said. “That’s the model in any regulatory setting.”

David Caldwell, vice president of North Kingstown-based homebuilder Caldwell & Johnson Inc. and past president of the Rhode Island Builders Association, disagrees.

“Consumers don’t react positively to man-

TARGETS FOR R.I.’S NET EMISSIONS

Rhode Island’s Act on Climate sets goals to reduce greenhouse gases in 2030, 2040 and 2050. However, projections indicate that the state might miss the target for 2030. The goal for that year is 6.89 million metric tons of carbon dioxide. Current estimates are that emission levels will be 7.39 million metric tons.

SOURCE: R.I. EXECUTIVE CLIMATE CHANGE COORDINATING COUNCIL

dates,” Johnson said. “They do better with incentives and education.”

Before imposing penalties on consumers and companies, Johnson urges the state to turn the microscope on itself. According to Johnson, the state has not adhered to a 2009 law requiring large public building and renovation projects to be built to high-performance green standards.

Caldwell doesn’t have much confidence the Act on Climate law won’t fall by the wayside the way the 2009 Green Buildings Act has.

“We support aspirational goals, but you have to put the details behind it,” Caldwell said. “Act on Climate seems largely aspirational right now.”

One potential motivator: starting in 2026, the attorney general or any resident or company can sue the state for failing to meet its incremental planning goals or emissions benchmarks.

Ahead of the looming litigation deadline, R.I. Attorney General Peter F. Neronha is leveraging a state settlement with Rhode Island Energy to help ensure the state is on track to meet its incremental benchmarks. As part of the settlement reached when parent company PPL Corp. bought utility operations in 2022, the company agreed to monetary and reporting commitments related to the Act on Climate law.

Based on this agreement, Neronha in February sought to challenge the company’s gas infrastructure improvement plan, arguing in filings to the R.I. Public Utilities Commission that the company “fails to adequately account for Act on Climate mandates to reduce and eliminate greenhouse gas emissions.”

Rhode Island Energy is also proposing a $529 million, 20-year plan to modernize the electrical grid, which includes upgrades to accommodate the two-way flow of power from home battery storage systems, rooftop solar panels and other “distributed energy resources.”

Carrie Gill, head of the electric regulatory strategy for Rhode Island Energy, says the company is “absolutely committed” to achieving state emissions mandates. PPL has touted its expertise and recognition received for grid modernization in Pennsylvania.

However, PPL’s lack of offshore wind experience was a concern for some environmental advocates at the time of the sale, especially because the utility operator is being tasked with overseeing and awarding a bid to develop another 1,000 megawatts of offshore wind for the state. The power generated by that project, on top of the 400 megawatts coming from the Revolution Wind project planned off Block Island, is going to move the state “a long way” toward its net-zero goals, Gray says.

But offshore wind projects have faced delays, tied up in lengthy federal reviews and post-pandemic supply chain woes.

TAKING AIM

To hit the state’s 2030 target, the EC4 report recommended stricter emissions standards for new cars sold in the state and an “aspirational target” that 15% of buildings in Rhode Island switch to electric, energy efficient heat by 2030.

As of late February, no legislation has been introduced based on these recommendations.

“The pace at which we are going right now is insufficient to meet our goals, but that doesn’t mean we can’t,” said Stephen Porder, Brown University’s associate provost for sustainability and an ecology and evolutionary biology professor. “This is not a scientific challenge. It’s a political will challenge.”

Gray said he was confident the state would hit the 2030 benchmark, noting that preliminary modeling suggesting that the state might fall short was too abstract to put much weight in.

As for hitting net zero?

AMPED UP: Zachary Cobb, left, Hexagon Manufacturing Intelligence vice president of services, and Steven Ilmrud, vice president of operations, demonstrate one of the charging stations at the North Kingstown company that are part of the company’s ambitious plans to offset the emissions it produces with renewable energy or credits by 2030.

“I am not here to declare victory or defeat in 2050,” Gray said. “We are treating them as final targets, but that could change over time. It could become more, or less aggressive.”

Ilmrud, meanwhile, was focused on hitting net zero for the company’s 110,000-square-foot North Kingstown factory.

Hexagon is reviewing proposals to install 500 megawatts worth of solar panels, either on the roof or in the parking lot, which could generate enough power to fill half of the Quonset factory’s electricity use. The rest of its emissions will have to be offset through renewable energy credits and battery storage systems, Ilmrud says.

“It’s a challenging goal, but we’ve committed to it as a corporation,” Ilmrud said. “We want to continue acting as a leader.” n

14 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com
million metric tons of carbon dioxide
PBN
PHOTO/ELIZABETH GRAHAM
0 3 6 9 12 15 2050 (goal) 2040 (goal) 2030 (goal) 2030 (projected) 2019 (actual) 1990 (actual)

Thank You!

PRESENTED BY Bryant University

Thanks to your support, the 26th annual Women’s Summit continued the tradition of empowering, supporting, and encouraging women to excel professionally, personally, and financially. Thank you to our esteemed speakers and all who attended for your participation and perspective.

A SPECIAL THANKS TO OUR LOYAL AND VALUED SPONSORS

Platinum Sponsor: Amica Insurance

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Silver Sponsors: BankRI, Blue Cross & Blue Shield of Rhode Island, Brown Medicine, CVS Health, FM Global, Hasbro, IGT, Navigant Credit Union, Providence Journal, TIAA, The TJX Companies Inc., Washington Trust

Bronze Sponsors: AAA Northeast, BankNewport, BD, Bristol County Savings Bank, Centerville Bank, BJ’s Wholesale Club, Dassault Systemes, Diego’s Newport, EY, Gilbane Building Company, Hope Global, J.P. Morgan Chase & Co., JF Moran, Marcum, LLP, Meeting Street, Ocean State Job Lot, Providence College, Robinson+Cole, Sodexo, Target, The Beacon Mutual Insurance Co., The Women’s Advisory Group

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Pay transparency grows; job seekers reap benefits

U.S. EMPLOYERS ARE increasingly posting salary ranges for job openings, even in states where it’s not required by law, according to analysts with several major job search websites.

Following new legislation in New York City, California, Washington, Colorado, and elsewhere, employers across the country are becoming more transparent about pay in order to stay competitive with companies in states that require employers to post salary ranges, experts say. A tight labor market and a significant increase in remote work have also contributed to the rise.

The number of U.S. job postings that include salary information more than doubled between February 2020 and February 2023, from 18.4% to 43.7%, according to a new report from job search site Indeed.com.

Salary visibility is lowest in the southern U.S., which accounted for 18 of the 20 least-transparent metro areas, and highest in the western part of the country, which tends to have more regulation.

Advocates say it’s a trend that benefits women and people of color, who statistically fare less well in hiring negotiations.

Rather than placing the responsibility on the job seeker or employee to determine how their pay compares with co-workers, and what fair compensation might be, the laws shift that expectation to the employer.

Kate Bahn, chief economist at the Washington Center for Equitable Growth, says that means employers have less of an upper hand in determining pay. Laws that forbid employers from asking potential hires about salary history in recent years do similar work.

In 2021, the median pay for full-time women workers was about 83% of men’s pay, according to federal data, and women make less than their

male counterparts in nearly all fields. Black women make 64 cents for every dollar paid to white, nonHispanic men, according to a report by the National Partnership for Women and Families. Latina women make 54 cents and Native American women 51 cents.

Keegan Vance Forte, 37, a freelancer based in Jersey City, N.J., is looking for a permanent position either in New York or New Jersey. She said she’s noticed more salary listings for open roles in both states during the past several months than she did when job hunting in the past.

“I’m still getting used to it,” she said. “When I see a salary posting with a job listing, my eyes widen.”

In the past decade, Forte has held roles in business development, marketing and company partnerships, and she says knowing the available range is helpful to avoid wasting both her time and the hiring manager’s.

“Instead of dancing around the elephant-in-theroom question at the end, you at least know you’re playing in the same ballpark,” she said.

Previously, Forte has spent weeks interviewing for a position only to discover the salary wasn’t in

an acceptable range for her.

“Over a career, that can be very time consuming,” she said.

Daniel Zhao, lead economist for job site GlassDoor, said that compliance with the new laws requiring disclosure is already strong in New York City, California and Washington, and even stronger in Colorado, which has had a law mandating transparency in effect since 2019.

Major companies such as Microsoft, CitiGroup and Google have publicly committed to posting salary ranges for all jobs across the country, rather than only in the states where it’s legally required.

Vicki Salemi, a career expert at job site Monster who also previously worked as a recruiter, said employers tend to compete for job candidates across state lines, including neighboring states that have different laws.

“That means it’s in their best interest to start sharing their own ranges, so the job seekers can compare apples to apples,” she said. “It’s a virtuous feedback loop.”

She called the new laws a “game-changer” in reducing the taboo around discussing pay.

A provision of New York City’s law gives companies 30 days to rectify any violation in a job posting – whether that’s listing an overly broad salary range or not having a range at all. It’s an unusual grace period.

Any member of the public can come to the commission and file an inquiry. If a company repeatedly violates the law, it will be subject to penalties, including fees. Anyone who encounters a business not complying with the new salary transparency law can file an inquiry at the commission website

The law is also proving to be illuminating for some employees who weren’t necessarily looking for new jobs.

Kimberly Nguyen, 25, a UX copywriter in a contract role at CitiGroup, noticed a job posting for a comparable role, but as a full-time employee with a significantly higher salary range. She shared it with her fellow contracted copywriters and tweeted about it. The group brought it to their managers to try to negotiate for higher pay. Nguyen said they’re still waiting.

“They told us it’s out of their hands, and there’s nothing they can do,” she said. “The managers said they hadn’t even realized the job had been posted.”

A spokesperson for CitiGroup said Citi pays the contracting company that employs Nguyen a market-competitive rate for their services, and that the contractor negotiates individual pay rates. The spokesperson said Citi is hiring for a full-time role for an employee with five to eight years of experience, more than Nguyen has.

Nguyen’s experience shows the limits of pay transparency in a highly contracted workforce. For now, she says she’s looking for full-time roles with higher pay at other companies, while still advocating for pay increases for contracted workers at Citi. She said she supports pay transparency and sees it as a tool for pay equity.

“It’s a hill I’m willing to die on, but I also have to pay rent,” she said. n

16 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com
WORKFORCE
AP FILE PHOTO/NAM Y. HUH
IN THE OPEN: Hiring signs displayed at a grocery store in Arlington Heights, Ill., tout the pay rate. Employers are increasingly posting salary ranges for job openings, even in states where it’s not mandated by law.
‘When I see a salary posting with a job listing, my eyes widen.’
KEEGAN VANCE FORTE, freelancer

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} }
DR. CLAIRE LEVESQUE MD, Chief Medical Officer, Commercial Products, Point32 Health DR. G. DEAN ROYE Senior Vice President, Chief Medical Officer, Rhode Island Hospital, Lifespan MARTHA WOFFORD President & CEO, Blue Cross & Blue Shield of RI TIM ARCHER CEO, New England, UnitedHealthCare DR. KIRSTEN HOKENESS Director, School of Health and Behavioral Sciences, Bryant University JANE HAYWARD Co-Chair, The Rhode Island Foundation Long Term Health Planning Committee DR. METHODIUS TUULI Chief of OB/GYN, Women & Infants Hospital, Care New England COREY McCARTY Senior VP/General Manager, CCA Health Rhode Island PETER MARINO President & CEO, Neighborhood Health Plan of Rhode Island KRISTINE CAMPAGNA Director, Community Health and Equity, RIDOH

we’ve been planning for the end of the pandemic and the return to normal operations,” said Rhode Island Medicaid Program Director Kristin Sousa.

Starting in April, a limited number of individuals will be checked for eligibility, starting from the group of people who were set to go through the process in 2020. After that, the remaining people on Medicaid will go through the process over the next year, with children and families with children going through the renewal process starting in December.

Sousa says she expects about 50% of people on Medicaid will be automatically reenrolled, while others will have to take additional steps to verify whether they are still eligible.

Some of the people who will lose Medicaid coverage might be eligible for an insurance plan through their employer, while some might now be eligible for Medicare.

Also, many people are expected to transition from Medicaid to HealthSource RI. To make the transition easier, the marketplace will offer eligible people transitioning off of Medicaid two months of premium assistance, while some individuals and families will be automatically enrolled, Lang says. Eligibility will be determined based on household income and size.

Medicaid renewals put state leaders on alert

LINDSAY

Lang feels a certain amount of pride that the rate of Rhode Islanders with health insurance coverage is among the highest in the country.

That’s why Lang, the director of the state-based health insurance marketplace HealthSource RI, and other officials are bracing for the start of Medicaid renewals on April 1.

It’s the first time in three years such renewals will take place because they were postponed during the worst of the COVID-19 pandemic, and now it’s expected that coverage for thousands of people in Rhode Island – and millions more nationwide – will be disrupted.

“We’ve come really far, we’re at 97% insured,” Lang said recently. “We don’t want to go backward. We’ve invested in infrastructure, technology, people, partnerships in the community to make sure Rhode Islanders have access to health coverage. We want to really leverage all of that and put it to work for people during this transition.”

Rhode Island has 12 months to complete the renewal process for the more than 350,000 individuals currently

enrolled in Medicaid.

The renewals were halted by the federal government in 2020 to protect people’s access to affordable health care during the pandemic. Now state officials are estimating that between 25,000 and 30,000 Rhode Islanders currently on Medicaid will lose the coverage once renewals start because they are no longer eligible for a variety of reasons.

Nationwide, that number is 15 million, according to a Kaiser Family Foundation survey.

“This could be hugely consequential for many people on the Medicaid program,” said David Meyers, assistant professor of health services, policy and practice at Brown University’s School of Public Health. “If it doesn’t go smoothly, it could be disruptive.”

That’s why state leaders are taking steps to ensure the process goes smoothly. In March, Gov. Daniel J. McKee and local health care leaders outlined their 12-month plan to restart renewals and notify individuals on Medicaid of how they will be affected. It was the product of over a year of planning and the collaboration of multiple state agencies and partners.

“From the beginning of the pandemic,

PREPPING FOR CHANGE: Lindsay Lang, director of HealthSource RI, says the organization is taking steps to ease the change in health care coverage for the hundreds of people who will no longer be eligible for Medicare.

“We tried to tailor that assistance to folks who might need it most, for whom a disruption in health coverage can be a real disturbance in their lives,” Lang said. “We tailored it to folks 250% of the federal poverty level and below.”

Lang says it’s expected that between 600 and 1,400 people per month will be automatically enrolled in a HealthSource RI plan, in addition to 100 to 300 people that will be eligible for the premium assistance.

But while many will be able to maintain coverage by taking advantage of the state’s marketplace, their new coverage is likely to not be as comprehensive as it was under Medicaid, Meyers says.

“I wouldn’t be surprised to see a jump in uninsured rates,” Meyers said. “But hopefully that can be kept to a minimum.”

People insured under Medicaid started receiving notices in March that update them about the upcoming renewals and inform them of the next steps.

Outreach efforts will come from multiple partners and in multiple forms, to ensure each population is aware of the changes and the steps they need to take.

While officials say Rhode Island’s size puts it at an advantage compared with other states, the transition is bound to face some challenges, according to Meyers.

In particular, certain populations are more at risk of coming out of this year uninsured, including people who are “disconnected from the health care system,” and who might struggle to prove their eligibility.

“While Rhode Island might not push people off as quickly as other states do, it remains to be seen whether the actions the state will take ensure everyone will make it through relatively unscathed,” Meyers said. n

18 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com FOCUS | INSURANCE
PBN PHOTO/CLAUDIA CHIAPPA
‘If it doesn’t go smoothly, it could be disruptive.’
DAVID MEYERS, Brown University assistant professor of health services, policy and practice
www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 19
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1

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RobertF.Calise, president of benefits;JosephJ. Padula, president of property and casualty

CLOSER LOOK

Total number of employees: 1,028

LIST RESEARCHED BY James Bessette

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NL = Not listed last year.

FOOTNOTES

j Starkweather & Shepley Insurance Brokerage Inc. in August 2021 acquired Providence-based Paolino Insurance Agency.

 Formerly Aon Risk Services Northeast Inc.

20 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com
2023 rank Company | Website CEO/President Address Phone No. of employeesTypes of insurance written
2000 Chapel View Blvd., Suite 240 Cranston, R.I.02920 (800)678-1700 181 Employee benefits advisory, human resources consulting, property and casualty, retirement planning 2 2022: 1 Starkweather & Shepley Insurance BrokerageInc. 1 | starshep.com LawrenceE.Keefe, chairman and CEO 60 Catamore Blvd. East Providence, R.I.02914 (401)435-3600 160 Casualty, commercial, employee benefits, personal, property, risk management services, surety bonding 3 2022: NL Falvey Insurance Group | falveyinsurancegroup.com MikeFalvey, founder, CEO and president;JackFalvey, chief operating officer 66 Whitecap Drive North Kingstown, R.I.02852 (401)214-5600 124 All-risk shippers insurance, marine cargo and stock throughput, vessel pollution insurance 4 2022: NL Baystate Financial | baystatefinancial.com DavidC.Porter, managing partner 501 Wampanoag Trail, Suite 200 East Providence, R.I.02915 (401)434-7560 96 Disability, life and long-term care 5 2022: 3 Cross Insurance - Rhode Island | crossagency.com JonathanM.Cross 376 Newport Ave. East Providence, R.I.02916 (401)431-9200 66 All lines, including commercial, bonds, health, life and personal 6 2022: 6 Carey, Richmond & Viking Insurance | crvinsurance.com V.DavidAndrade, president 2 Corporate Place Middletown, R.I.02842 (401)683-3900 52 All lines; high-value homeowners, coastal residential, construction, marine, cyber, educational and financial institutions, flood, manufacturing 7 2022: 4 OceanPoint Insurance Agency | oceanpointins.com DouglasK.Mayhew 500 West Main Road Middletown, R.I.02842 (401)847-5200 51 Commercial, life and benefits, personal 7 2022: 5 World Insurance AssociatesLLC | worldinsurance.com JeffDeldin, executive vice president and regional leader 1350 Division Road West Warwick, R.I.02893 (401)558-0101 51 Business, personal, employee benefits and human resources 9 2022: NL Brokers' Service Marketing Group IILLC | bsmg.net JasonE.Lea, CEO 500 South Main St. Providence, R.I.02903 (401)751-9400 42 Annuities, life insurance and long-term care insurance to financial-service individuals and institutions 9 2022: 7 Gallo|Thomas Insurance Agency Inc. | gallothomas.com ThomasJ.DiSanto 125 Metro Center Blvd., Suite 3001 Warwick, R.I.02886 (401)732-9100 42 All lines, including personal, commercial, life and health 11 2022: 10 Thompson Insurance Group | thompsoninsurancegroup.net KennethThompson, president and principal 2761 Pawtucket Ave. East Providence, R.I.02914 (401)434-7203 29 Auto, business, flood, homeowners, life, property, surety bonds, workers' compensation 12 2022: 8 Butler & Messier InsuranceInc. | butlerandmessier.com BruceMessier, president 1401 Newport Ave. Pawtucket, R.I.02861 (401)728-3200 25 Commercial and personal insurance, including employee benefits and health plans 12 2022: NL Eastern Insurance GroupLLC | easterninsurance.com TimLodge 42 Weybosset St., Suite 500 Providence, R.I.02903 (401)273-7323 25 Commercial property and casualty, executive life, group health benefits, personal lines, surety and bonding 14 2022: 12 Aon 2 | aon.com ChristaR.Davies, executive vice president and chief financial officer 100 Westminster St. Providence, R.I.02903 (401)331-7700 19 Health and benefits, property and casualty, reinsurance 15 2022: 15 Lathrop Insurance AgencyInc. | lathropinsurance.com JohnLathrop, chairman;DanL.Lathrop, president; JamesKane, vice president 33 Crestview Drive Westerly, R.I.02891 (401)596-2525 16 Solutions for complex personal and commercial insurance 16 2022: 13 Woodmansee InsuranceInc. | woodmanseeins.com RalphH.Woodmansee, president, personal lines 1122 Main St. Richmond, R.I.02898 (401)539-7000 15 Commercial and personal 17 2022: 15 Hunter InsuranceInc. | hunterinsurance.net BrianM.Hunter, president 389 Old River Road Lincoln, R.I.02838 (401)769-9500 14 Auto, commercial, home, business, life 18 2022: 18 WD & AssociatesInc. | wdandassociates.com WilliamM.Delmage 34 Hemingway Drive East Providence, R.I.02915 (401)435-4239 10 Benefits consulting analysis, claims projection, group benefits, HR consulting, strategic planning 19 2022: 15 Doorley AgencyInc. | doorleyagency.com MarkC.Doorley, president;MatthewP.Doorley, vice president 17 Sixth Ave. East Greenwich, R.I.02818 (401)886-9600 9 Auto, business owners, casualty, commercial, general liability, home, inland marine, life, property, renters, umbrella, workers' compensation 20 2022: 19 Shove Insurance | shove.com WilliamHunt Jr., president 1401 Newport Ave. Pawtucket, R.I.02861 (401)753-0055 1 Auto, commercial property, health, home, life, personal, property and liability, workers' compensation 1 Starkweather & Shepley Insurance Brokerage Inc. in August 2021 acquired Providence-based Paolino Insurance Agency. 2 Formerly Aon Risk Services Northeast Inc.
www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 21 INSURANCE I BENEFITS I RETIREMENT I HR OFFICE LOCATIONS THROUGHOUT NEW ENGLAND • (800) 678-1700 • hilbgroupne.com
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Property and Casualty Phone: (800) 678-1700 ext. 2120 Email: jpadula@hilbgroup.com Rob Calise, Managing Director Employee Benefits Phone: (800) 678-1700 ext. 1117 Email: rcalise@hilbgroup.com
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Measures on car premiums struggle to gain traction

WHEN STATE REP. DAVID MORALES submitted legislation in February that would prohibit auto insurance companies from using any information other than driving records when calculating premium rates, he was prepared for an uphill battle.

Similar legislation went nowhere last year.

Within days of his submission this session, he heard skepticism from General Assembly members, even from some progressive allies. Morales, D-Providence, says the insurance lobby had been working the room.

“The auto insurance industry and the [business groups] are doing a decent job talking to people [to convince them] why this would be harmful,” Morales said. “Unfortunately, they hold a lot of influence within the legislature.”

Rhode Island drivers, mandated by law to have car insurance, pay some of the highest premiums in the country. But costs can vary depending on criteria such as ZIP code of the policyholder, income, education levels, gender, credit history and marital status.

Morales says the current regulations are discriminatory, and policyholders – especially those in urban areas – are being punished for things outside of their control.

The legislation submitted by Morales – H5659 – would prohibit insurers from using education level, race, ethnicity, disability, occupation, income, gender, ZIP codes or census tracts to determine premiums or eligibility for coverage.

Rep. Enrique Sanchez, D-Providence, submitted a similar bill this session, H5336.

The measures are modeled on a law that took effect in Michigan in 2020 that eliminated many nondriving factors in setting premiums.

Disparities aside, insurance rates are set to jump on average another 7% in 2023, according to a report by

the financial website Value Penguin. Rhode Island also ranks among the highest in the country for repair costs, which have risen 39% since 2016.

Morales has received complaints from constituents struggling with affordability in Providence’s Mount Pleasant, Valley and Elmhurst neighborhoods.

“We already have some of the highest insurance rates in the entire state. So that means that people in our neighborhood are paying disproportionately more than folks in other parts of the state and even other parts of Providence,” he said.

Insurance companies say the proposals would only shift costs from

one demographic to another. The pricing models are based on sound actuarial science, they argue, and policy discrimination would violate Rhode Island law.

Morales’ bill received a hearing before the House Corporations Committee on Feb. 28. Elizabeth Dwyer, interim director of the R.I. Department of Business Regulation and the agency’s superintendent of banking and insurance, testified that the use of race or ethnicity in setting prices is already prohibited.

But the data showing pricing disparities is hard to ignore. A 2017 study by the Consumer Federation of America analyzed auto insurance premiums charged by 10 of Rhode

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22 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com FOCUS | INSURANCE
‘I believe it is worthwhile to further scrutinize the pricing models.’
DAVID MORALES, Providence state representative
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Island’s largest auto insurers and found “dramatic” pricing differences based on nondriving factors.

Supporters of the legislation, including the American Civil Liberties Union of Rhode Island Inc., Rhode Island Commission on Human Rights, and the CFA point out that two policyholders within a mile of one another can pay wildly different rates.

Other than driving history, many insurers use geographic and demographic data to set premiums, including aggregate traffic accidents and population density. Some include crime rates in the algorithms, one of many characteristics that “serve as proxies for income and race,” Michael DeLong, a CFA research and advocacy associate, said in written testimony.

West Warwick resident Don Budman bought a new car in 2020 and took out a policy with Geico Insurance Agency LLC for $72 per month. His premium was recently raised to $117, despite having no accidents or moving violations. When he lived in Coventry, his policy was less than $600 annually but was raised 44% after moving to West Warwick.

Budman is disabled and drives about 7,900 miles a year, about half of the mileage logged by the average motorist, according to the latest figures from the Federal Highway Administration. “It’s a constant struggle,” he said. “But we have no choice but to pay it.”

Opponents of limiting pricing criteria only to personal driving

records say the legislation could harm the ratepayers it’s intended to protect. John O’Brien, a lobbyist with the American Property Casualty Insurance Association, said the bill could have many unintended consequences.

He cites studies showing minorities are subject to traffic stops at higher rates as one example. Traffic tickets are a factor in setting insurance premiums.

“It would require the auto insurance companies to only focus on one thing, to the exclusion of everything else,” he said. “People are better off when we are able to take into consideration a wide range of factors.”

The Rhode Island Business Coalition sent a letter to the House Corporations Committee arguing the legislation would stifle competition and that excessive regulation could lead to companies choosing to exit Rhode Island.

“Fewer competitors usually lead to higher prices for everyone,” the coalition wrote.

Both bills were “held for further study,” which some view as a euphemism for legislative purgatory. But Morales is confident he can persuade the leadership to bring a vote to the floor.

“Even if it doesn’t pass, I believe it is worthwhile to further scrutinize the pricing models that these companies use,” he said. “[It’s not] a radical idea that insurance companies see less profits. They don’t have to lower rates for one population and then raise them on another.” n

www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 23 INSURANCE | FOCUS
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ROUGH ROAD: State Rep. David Morales has introduced one of the bills that would prohibit car insurers from using criteria such as ZIP codes, income, education levels and occupations to set premiums for policyholders. The measure has faced opposition from the insurance industry.

FOCUS | MARKETING /SOCIAL MEDIA IN BUSINESS

swering the call: as of late last week, 123 investors have raised $85,400, with almost a month remaining in the drive.

This type of investment-based fundraising has only recently gained traction. It became possible in 2016 when the federal Jumpstart Our Business Startups Act – or JOBS Act –lifted regulations on crowdfunding for early-stage companies.

Nicholas Mathews, co-founder and CEO of Mainvest, saw an opportunity in the regulatory update and launched his platform in late 2018.

Since then, “demand has grown immensely,” Mathews said, with the platform so far hosting more than 600 campaigns, including seven or eight in Rhode Island. Mainvest operates in 44 states, with around 40% of its clients in New England.

Interest has been higher than these numbers indicate, Mathews says, noting the company only accepts around 7% of applicant businesses based on their viability, stage of development and category of business.

On average, the platform takes 5.5% of the total amount raised while investors receive a percentage of the business’s revenue paid back quarterly until the business hits its overall incremental return.

A new way of getting funding from a crowd

small-business owners, Marissa Stashenko and James Davids of Anchor & Hope W ine and Enotap LLC faced the lofty task of converting their property in the Rumford section of East Providence into a tasting room.

The project, which Stashenko and Davids envision as a 4,000-square-foot space with an outdoor patio along the Seekonk River, had an estimated $1.1 million cost.

Last year, the co-owners obtained a $99,000 loan through the city of East Providence to help finance the tasting room, which they hope to open by early summer. But a larger financial boost is coming from a very different source: the winery’s customers and other supporters, who contributed $250,000 to the business as part of an investment-based crowdfunding campaign.

“We liked the idea because [with] some of the other crowdfunding [platforms], you don’t necessarily get anything back for your money,” Stashenko said. “Or with some of them, you’re getting equity in the company.”

With the investment-based drive, which the business hosted last year through the Salem, Mass.-based platform Mainvest,

“it’s revenue-based, sharing growth, so people are getting something back as we grow,” Stashenko said.

It’s an idea other Rhode Island small businesses and startups tried as well: In Warren, Bywater restaurant is using this method, also through Mainvest, to fund its planned expansion of the Bakeshop, a pop-up cafe offshoot Bywater launched as another revenue source during the COVID-19 shutdown.

But as the restaurant reopened to full capacity, owner Katie Dickson says it became clear that the Bakeshop, which has been on pause since the fall, needed its own space, and the restaurant could use the added daytime revenue to pay off remaining debts from before and during the COVID-19 pandemic.

“Our daytime bakery business was a wonderful addition to the community and a solid business model; now is the time to give it space to grow, and simultaneously solve Bywater’s space problem,” Dickson said in a fundraising statement.

This expansion isn’t cheap, with Dickson leasing a new storefront, located across the street at 277 Water St., to house the Bakeshop.

Supporters have already started an-

DRAWING

A CROWD: James Davids, co-owner and vintner at Anchor & Hope Wine in East Providence, is aiming to expand the business using an investment-based crowdfunding.

The company is looking to open a tasting room.

Mainvest isn’t the only company to offer a platform: New Majority Capital, a Providence-based startup and foundation that supports people of color and women in acquiring existing businesses, is also in the process of an investment crowdfunding drive using San Francisco-based Wefunder.

As of mid-March, New Majority Capital has raised approximately $500,000 from 84 investors, with another $50,000 anticipated investment on the way, says co-founder and CEO Havell Rodrigues. The crowdfunding drive will continue through April.

Investment-based crowdfunding “is an underutilized tool,” Rodrigues said. “There’s a big need to see other companies, startups raise money from their customers, and suppliers are becoming part of the investment group, so it’s more grounded with the immediate stakeholders.”

Funding from the drive will contribute to capacity building, staffing and acquisition closings, Rodrigues says, noting that the startup has so far assisted 180 entrepreneurs, including 31 currently enrolled in its eight-week BETA Accelerator program. The foundation has also closed nearly eight acquisitions, Rodrigues says, including one in Rhode Island’s manufacturing sector that the company has yet to disclose.

Beyond opening the fund to a larger pool of potential investors, the fundraising drive also builds a sense of community among supporters, Rodrigues says.

Investors are “recommending entrepreneurs of color who they know could be a good business owner; they’re recommending businesses in their communities who are coming up for sale,” Rodrigues said, “ and they’re offering them to us, so we like the community [aspect] of what this investment opportunity has allowed us to do.” n

24 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com
PBN PHOTO/ MICHAEL SALERNO
AS
‘People are getting something back as we grow.’
MARISSA STASHENKO, Anchor & Hope Wine and Enotap LLC co-owner

PR FIRMS

CONTINUED FROM PAGE 1

respond at a moment’s notice. Washington Trust has expanded, too, more than quadrupling its number of branches since when Boyle Eckel began and adding wealth management and loan offices across state lines.

Which is why the bank recently hired a Bostonbased public relations agency.

“We really want that sophistication and experience, and the skills that we don’t have ourselves,” Boyle Eckel said of the company’s decision to hire Norbella. “We need a strategy to help grow beyond the Rhode Island borders.”

Increasingly, local companies and government groups, including those with in-house marketing teams, are turning to public relations consultants.

Companies and PR firms say it’s a mutually beneficial relationship born out of business expansion and a more complicated marketing landscape. But some public access groups aren’t convinced.

Including Linda Levin, a former Providence Journal reporter, professor emerita at the University of Rhode Island and past president of the Rhode Island Pr ess Association

Adding an extra step for journalists on deadline to interview a company president or government leader – first contacting the PR firm, which in turn gets in touch with the company marketing team to set up a time with the executive in question – seems at best, inefficient, and at worst, results in an incomplete story, Levin said.

“It could have a negative impact on journalists trying to get information in a timely manner, but it’s also bad for companies and agencies who can’t get their message across,” she said.

That’s assuming a journalist can’t call up the government official or business leader directly, however. Reporters who regularly cover state politics or business probably have a list of personal contacts already, Levin said.

Boyle Eckel didn’t want Norbella to act like a gatekeeper between the press and the bank. She saw the firm as a way to make it easier to get news out and respond to reporters. The consultant is also helping the bank with market research and digital strategy.

Working with a large marketing agency can give a small business access to a much broader array of tools and expertise than it would be able to hire, said Giselle Mahoney, a partner at RDW Group in Providence and co-treasurer of the Southeastern New England chapter of the Public Relations Society of America.

“You could hire an extra person [for your company], but you can’t expect that person to be a unicorn and bring expertise in all these different areas,” Mahoney said.

An outside firm can also offer countering perspectives, said Lynn Hall, director of corporate communications for Ocean State Job Lot Inc. The bargain retailer works with a Boston-based

firm, Regan Communications Gr oup, in addition to its 40-person marketing department.

“They’ve definitely swayed us to talk about something we normally wouldn’t have with the idea,” Hall said.

After a customer was hit by a car in a Job Lot parking lot, for example, the company wanted to lay low, but Regan encouraged it to put out a statement. In retrospect, Hall said it was a good idea.

Although Regan is based in Boston, its Providence office handles most of Job Lot’s press pitches, which means the names and faces are familiar to Rhode Island media. Kate Murphy, senior vice president for Regan who works in Providence, sees it as the best of both worlds.

“We have the local presence, so we know who the players are, but we have the resources of a larger agency,” Murphy said.

While Norbella isn’t based in Rhode Island, Boyle Eckel didn’t see that as a disadvantage because Washington Trust’s focus is growth in neighboring states. For local cities and towns or government agencies, working with a Rhode Island firm matters, said Christopher Hunter, managing director for Advocacy Solutions LLC

The Providence

firm specializes in government regulations and communications, from targeted advertising campaigns about ballot questions to longer-term services for agencies such as the Rhode Island Infrastructure Bank and the R.I. Board of Elections

The influx of federal relief dollars for government groups during and after the pandemic has increased demand, Hunter said.

“A lot of these agencies are dealing with hundreds of millions of dollars in programs that impact people on a daily basis,” Hunter said. “There is an expectation for communication and immediacy, and it’s really hard for one public information officer to handle the avalanche that comes through.”

John Marion, executive director for Common Cause Rhode Island, sees it differently. He fears having outside PR firms working for government agencies could obscure transparency and access for journalists and the greater public.

Case in point: several PR agencies declined to comment for this story, including New Harbor Group and Duffy & Shanley Inc., which had its contract for “on-call communications” with R.I. Commerce Corp. extended in December. Others did not want to discuss specific clients or jobs.

“It smacks of institutions becoming increasingly risk-averse,” Marion said.

In Washington Trust’s case, the decision was more straightforward.

“It would be great to staff up and hire a couple more people to do these things, but this job market is just so difficult,” Boyle Eckel said. n

www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 25 MARKETING/SOCIAL MEDIA IN BUSINESS | FOCUS
SPECIALIZED HELP: Elizabeth Boyle Eckel, chief marketing and corporate communications officer at The Washington Trust Co., says the bank decided to hire a public relations agency because of the need for sophistication and expertise in a digital age. PBN PHOTO/MICHAEL SALERNO
‘There is an expectation for communication and immediacy.’
CHRISTOPHER HUNTER, Advocacy Solutions LLC managing director

FOCUS | ADVERTISING &

PUBLIC RELATIONS

FOCUS | ADVERTISING & PUBLIC RELATIONS AGENCIES (ranked by number of employees)

AGENCIES (ran(ranked by number of employees)

Total number of employees: 431

LIST RESEARCHED BY James Bessette

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To purchase a copy of this list, call (401) 273-2201 or visit PBN.com/lists for more information.

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26 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com
LOOK
CLOSER
2023 rank Agency | Website CEO/President Address Phone No. of employees No. of clientsMajor accounts 1 2022: 1 (add)ventures | addventures.com StephenRosa, CEO 20 Risho Ave. East Providence, R.I.02914 (401)453-4748 90 20 Brother, CVS Health, Baxter, Newell Brands, Stop & Shop, Food Lion, PetSmart 2 2022: 2 RDW Group | rdwgroup.com PhilLoscoe Jr., chairman and managing partner 225 Dyer St. Providence, R.I.02903 (401)521-2700 50 NA Access Health CT,
University,
Centreville Bank, HealthSource RI 3 2022: 2 Integrated Media Group | growwithimg.com GilLantiniandRalphCoppolino, founders 1145 Reservoir Ave., Suite 300 Cranston, R.I.02896 (401)300-9921 48 NA WND 4 2022: 4 Duffy & ShanleyInc. | duffyshanley.com JonDuffy, president 10 Charles St. Providence, R.I.02904 (401)274-0001 35 NA AT&T, BJ's Wholesale Club,
Globe,
Ave.,
Dental,
R.I.
5 2022: 5 Nail Communications | nail.cc JeremyCrisp, managing partner;JeanettePalmerand LizziWeinberg, partners;BrianGrossandAlecBeckett, creative partners 140 Union St. Providence, R.I.02903 (401)331-6245 32 20 Lifespan Corp., Rhode Island Foundation, IGT, Navigant Credit Union, Natural Balance Pet Food, American Tourister, Tradewind Aviation, Rhode Island FC, Preservation Society of Newport County, New Bedford Whaling Museum 6 2022: 6 PMC Media Group | pmcne.com DarrenJodoin, president 694 Main St. East Greenwich, R.I.02818 (401)667-7777 24 127 WND 7 2022: 9 McGuinness Media & Marketing | mcguinnessmedia.com MeganMcGuinness, owner 2374 Post Road, Suite 200 Warwick, R.I.02886 (401)773-7711 20 60 Bally's Corp., HarborOne Bank, Willow Tree Farm, Children’s Wishes, Sportsbook Rhode Island, Carr Financial, State of Rhode Island 8 2022: 7 KSA Marketing | teamksa.com KatieSchibler Conn, founder;DavidBradley, partner 100 Metro Center Blvd., Unit 4 Warwick, R.I.02886 (401)681-4900 18 24 University of Rhode Island, PepsiCo Global, R.I. Department of Health, YMCA Greater Providence, New England Institute of Technology, MassTech 9 2022: 10 Animus Studios | animusstudios.com ArtyGold;JustinAndrews, partners 120 Amaral St. East Providence, R.I.02915 (401)438-4800 13 NA Hope Global, Ocean State Job Lot, Providence College, R.I. Lottery, Toray Plastics (America) Inc., University of Rhode Island 10 2022: 12 Trailblaze Marketing | trailblaze.marketing ChristopherParisi, founder and president 333 Westminster St., Suite 200 Providence, R.I.02903 (401)753-7470 12 NA WND 11 2022: NL CatalystInc. | catalystb2b.com TomHamlinandPatriciaMarraffa, partners 275 Promenade St. Providence, R.I.02908 (401)732-1886 10 6 BD, Anika, Globe Manufacturing, Web Industries, Isabellenhütte, Solidworks/ DraftSight 11 2022: 13 GLAD WORKS INC. | gladworks.com Gina L.DiSpirito, founder, principal and creative director 545 Pawtucket Ave., Studio C208 Pawtucket, R.I.02860 (401)724-4523 10 NA WND 11 2022: 13 Luminous Creative Agency | luminous.agency BryanRoberts, co-founder, creative director;Ryan Buttie, co-founder 220 South Main St. Providence, R.I.02903 (401)234-9407 10 NA Amgen, Rhode Island T.F. Green International Airport, Rhode Island Foundation, Wright's Dairy Farm, 14 2022: 17 Advocacy SolutionsLLC | advocacysolutionsllc.com Francis X.McMahon, president 1 Richmond Square, Suite 200N Providence, R.I.02906 (401)831-3700 8 NA WND 14 2022: 11 JH Communications | jhcom.net JohnHoule 111 Wayland Ave. Providence, R.I.02906 (401)831-6123 8 75 Brown Physicians Inc., United Nations Population Fund, Trusted Choice, YMCA of Pawtucket, CODAC Behavioral Healthcare 16 2022: NL Clarendon GroupInc. | clarendoncommunications.com ChristineHeenan 109 Narragansett Ave., Suite 103 Jamestown, R.I.02835 (401)831-5898 7 NA WND 16 2022: 17 Dodge AssociatesInc. | dodgeadv.com OgdenDodge, president 67 Cedar St., Suite 102 Providence, R.I.02903 (401)273-7310 7 21 Bristol County Savings Bank, Musselbound, Nolan Ryan Beef, North Coast Seafoods, TransOcean Products, Swan Point Cemetery 18 2022: 17 Imaj AssociatesInc. | imajassociates.com JamiOuellette-Morse, president and creative director 11 William Reynolds Farm Road Richmond, R.I.02892 (401)491-9665 5 14 Wood River Health, Gloria Gemma Foundation, Providence Children's Museum, R.I. School for Progressive Education 18 2022: 20 Regan Communications Group | regancomm.com GeorgeRegan, founder and president;AshleyBoiardi, president;LisaDoucet, managing director;Kate Murphy, senior vice president 127 Dorrance St. Providence, R.I.02903 (401)351-8855 5 20 Boston Celtics, Ocean
Suburban Propane,
Restaurant
Feld Entertainment, Nichols College, Gordon School 18 2022: 8 Working Planet Marketing GroupInc. | workingplanet.com SorenRyherd, co-founder and president;Vida Jakabhazy, co-founder Providence, R.I. 02906 (617)901-2469 5 NA 1-800-Company, Habitat for Humanity, Silver Gold Bull 21 2022: 22 In Toone Communication | intoone.com JenniferToone Corrigan, owner 130 Wyndham Ave. Providence, R.I.02908 (401)258-8830 4 NA WND 21 2022: 20 Newberry Public Relations & MarketingInc. | newberrypr.com ElisabethGalligan, owner and president 175 Grand Avenue Pawtucket, R.I.02861 (401)433-5965 4 NA Aldersbridge Communities, Blackstone Valley Tourism Council, CareLink, City of East Providence, The Hilton Group at UBS Financial Services 23 2022: 22 NinedotLLC | ninedot.com MarkBevington, CEO and director of purpose 225 Dyer St., 2nd Floor Providence, R.I.02903 (401)274-4200 3 25 Pet Food Experts, Lexington Partners, Ocean House, RiverHead Building Supply, LeanSwift, Arca Financial, EverC 24 2022: 22 Streicker &Co. | streicker.com PaulStreicker, president 37 Eastern Ave. East Providence, R.I.02914 2 NA WND 25 2022: NL Litos Strategic Consulting | litossc.com MarkLitos 62 Wilson St. Dartmouth, Mass.02748 (508)889-7929 1 6 Bausch + Lomb / Lasik Division, BrightSource Energy, GDF Suez / Distrigas, Ice Energy, Lifetime Benefit Solutions, National Renewable Energy Lab, Nye Lubricants
Cornell
Helen Keller School for the Blind, Reliant Medical Group, National Grid,
Boston
College
Delta
Dunkin', Foster Grant, Orsted, Hanesbrands,
Commerce Corp.
State Job Lot,
Shawmut Design and Construction, Newport
Group,

Agencies are always celebrating one thing or another. Turning 50 isn’t normally one of those things.

What does it mean to be of our advanced age?

Not many agencies ever get the chance to ask that question, so “grateful” is definitely a word that comes to mind.

“Jubilant” is another. Those who know us will tell you that we have a lot of fun doing what we do. That said, when you have a whole lot of tables to put food on every night, you take your fun very seriously. And for those keeping score at home, this week will be the 2600th consecutive time we’ve made payroll.

Mostly, though, we’re proud. Proud to be a place that so many smart, talented, weird and wonderful people have called home. And then there are the kind and courageous clients who challenge us every day. From our simple beginnings serving local businesses, today we’ve grown to represent national and supernational brands like AT&T and BJ’s, Comcast and Dunkin’, Foster Grant, Hanes, Ørsted and more. (Not to mention a whole lot of good causes we’ve been fortunate to be a part of as we try to make a big difference here in this mighty little state.)

And yes, for one reason or another, most agencies around here — anywhere really — just don’t make it this long. So, what makes us special? How did we get here?

For sure it starts with those smart people we mentioned. And you know what smart people do? They make smart decisions. Especially with their clients’ money, which they treat as their own.

We also wouldn’t be here without the help of our friends who’ve had our back through thick and thin, especially those who were there for Dave when he decided to start a new company from scratch because, hey, he had to eat.

Sure, over five decades a few things are bound to break the right way for you. But luck ain’t got nothing to do with this. People do.

In the end, you know what turning fifty means to us? It means getting the chance to turn fifty-one. To keep having fun together, making amazing things with even more amazing people we can call family. To be here for what’s new, and lead the way toward what’s next. To continue making a difference.

And celebrating one thing or another.

www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 27
duffyshanley.com

RIVMA names new board president

DR. SHELLY PANCOAST, who has served on the Rhode Island Veterinary Medical Association’s board of directors since 2021, was appointed the board’s new president on Jan 1. She now leads the 250-member association focused on promoting animal welfare, veterinary medicine and public health. She is an emergency clinician at Ocean State Veterinary Specialists and Bay State Veterinary Emergency and Specialty Services, where she has practiced since 2011. After graduating from college, Pancoast spent two years in general practice in Connecticut and Boston before going on to complete a specialty combined internship in cardiology and emergency and critical care at Tufts University’s Veterinary and Emergency Treatment & Specialties, or Tufts VETS, a specialty and emergency veterinary hospital in Walpole, Mass.

What led you to joining the association’s board in 2011?

As an emergency room veterinarian, my job changed in unimaginable ways during the COVID-19 pandemic. I wanted to find a way to help support and advocate for my colleagues and I realized that organized veterinary medicine is one of the best ways to do that.

What are your goals for the association?

I would like to help make Rhode Island a kinder place for animals, pet owners and veterinary staff. Promoting access to veterinary care and advocating for legislation that helps to put an end to animal cruelty are very important to me. It is also imperative that we shine a light on the mental health issues that face veterinary staff.

W hat workforce challenges is the veterinary sector facing and what needs to be done to address it?

The biggest challenge right now is the shortage of

veterinarians and veterinary staff, and the burnout that is contributing to these shortages. Unfortunately, there is no simple solution, and studies on how to reduce burnout and improve well-being are underway on a national level.

W hat, if any, new initiatives will the association look to introduce this year to support the veterinar y sector?

RIVMA continues to look for solutions to improve access to veterinary care for all pets. This is an issue across the country and an area where Rhode Island has been a national leader for many years since the founding of the RIVMA Companion Animal Foundation. The foundation provides financial assistance to low-income pet owners to help ensure their beloved companions have access to the care they need. … We are currently working with other nonprofits on this issue and applaud their work to help others. n

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In one of my favorite “Peanuts” comic strips, Linus says to Charlie Brown, “There’s no problem so big or so complicated that it can’t be run away from.” I chuckle every time I think about it because it sounds like a simple solution to a problem.

We all have problems. It’s how we deal with them that matters most.

Problems move through three phases:

1.The proactive stage, when problems can be solved fairly simply.

2.The reactive stage, when remedial steps are necessary to turn the situation around.

3.The crisis stage, when immediate action is required to avoid permanent damage.

My good friend Nido Qubein, president of High Point University in North Carolina, told me that if you address problems while they’re still in the proactive stage, it will prevent unimportant things from turning into urgent situations that divert your time and attention away from important things.

Problems seem much worse in the middle of the night. If I wake up thinking of a problem, I tell myself that it will seem lighter in the morning. And it almost always is.

How to tackle problems

Whenever I feel overwhelmed by one of life’s problems, I reflect on the story Pope John XXIII told about himself. He confessed, “It often happens that I wake at night and begin to think about a serious problem and decide I must tell the Pope about it. Then I wake up completely and remember I am the Pope.”

Certainly, few of us face that level of responsibility. But worry is universal. We all have problems from time to time.

Try not to borrow other people’s problems. I must confess that I have broken this rule because I wanted to help someone, or I thought I was more equipped to handle a situation. As difficult as it may be, wait to offer advice until you are asked, and don’t be offended if that request never comes or if your advice is not heeded.

Perhaps the worst thing to do is to act as if there isn’t a problem. It’s like the battered fighter who hears his trainer say between rounds: “Champ, you’re going great! He ain’t laid a glove on you!”

The champ says, “Well, you better

keep an eye on the referee then because somebody in this ring is beating the hell outta me.”

The best place to solve a problem is at the point of complaint.

American Airlines has always had a commitment to customer satisfaction. Years ago, American realized that a large percentage of its passengers who made complaints had them around the ticket counter and boarding gate. To head off complaints before they got started, American created a special service position to deal with the problems as they arose so that the customers’ problems could be solved before they could criticize the airline.

And then there is the story of a woman who hired a carpenter for repairs on her farmhouse. One day, a flat tire made him lose an hour of work, his electric saw quit and then his truck refused to start, so the woman drove him home. He invited her in to meet his family. As they walked to the front door, he paused at a small tree, touching the tips of the branches with both hands.

.

Inside, he smiled and hugged his two children and gave his wife a kiss. As he walked the client out to her car, she asked him about the tree.

“Oh, that’s my trouble tree,” he replied. “I can’t help having troubles on the job, but troubles don’t belong at home. So, I just hang them up on the tree every night when I come home. Then in the morning I pick them up again.”

“Funny thing,” he said smiling, “when I come out in the morning to pick them up, there aren’t nearly as many as I remember hanging up the night before.”

Wouldn’t it be great if we could leave our work troubles at work and not bother our families or leave our personal problems at home and get on with our workday? Find your trouble tree and put your problems in perspective.

Mackay’s Moral: Get control of your problems before they get control of you. n

Harvey Mackay is the author of the New York Times bestseller “Swim With the Sharks Without Being Eaten Alive.” He can be reached through his website, www.harveymackay.com.

www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 29 IT’S PERSONAL
MACKAY’S MORAL | HARVEY MACKAY #PBNHCHeroes ❤ #PBNHCSummit welcomes partner sponsor 2023 AWARDS
Put your problems in perspective

(Editor’s note: This is the eighth installment of a monthly column on the growing number of cyberthreats facing businesses of all sizes and what they can do about it. This column was first published on March 23.)

Even as tech companies are making headlines for laying off portions of their workforce, cybersecurity workers continue to be in high demand. While not completely immune from these major rounds of layoffs, cybersecurity is considered to be one of the most resilient areas for investment, even in this prudent economic atmosphere.

Because of a shortage of qualified candidates, finding talent with the skills to protect against cyber-risks, on the other hand, has become increasingly challenging. According to a December 2022 article by SC Media, this year the cybersecurity employment gap in the U.S. jumped 40% to well over 700,000, and global openings are projected to be 3.5 million in 2025.

Meanwhile, an estimated 80% of organizations suffered from at least one data breach in the past 12 months, according to the report, due to a lack of cybersecurity talent or awareness.

And CNBC in January reported

Easing the talent chase

that the supply-demand ratio is currently at 68 workers per 100 cybersecurity job openings.

This lack of available cybersecurity workers is driven by several causes, including the rapid expansion of technology in business and the low number of people currently seeking careers in this sector. This is a trend that has been building over the last few years and the gap will only continue to grow as businesses mature their digital-transformation strategies.

So, what can business leaders do?

n Let go of traditional hiring practices. We must expand our search and look for people that may not fit the conventional job description. We must seek candidates looking for opportunities to grow and learn new skills. Quality candidates don’t necessarily need to have in-depth technology skills, cybersecurity-specific education or experience. Cybersecurity is extremely diverse, requiring understanding

in disciplines that range anywhere from technology to psychology, from law, risk, and finance to regulation and more. While these applicants may require a bit more investment in training and mentorship, someone with the right attitude, aptitude, communication skills and the desire to learn can ultimately give an organization a more diverse, creative and more engaged workforce.

n Leverage a cybersecurity partner. For organizations that have limited resources focused on cybersecurity, engaging with a cybersecurity business partner can immediately offer access to a wide assortment of talent and resources. This diverse team, with a wide range of competencies and experience, can bring the latest in tools, techniques, processes, standards and trainings to your organization to help ensure that you are building the right strategies for risk mitigation and business resilience. Leveraging a cybersecurity partner

can be a more strategic, cost-effective and efficient strategy for filling the cybersecurity talent gap within your business.

n Put some skin in the game. The only way that we can guarantee our pipeline of talent increases and becomes more sustainable is to invest time supporting the next generation of workers. Work with your local K-12 institutions to help build a much needed cybersecurity curriculum in our education systems. Offer your time to speak to middle or high school students. Volunteer on boards, committees or mentorship programs where you can positively influence and encourage more students to seek jobs in cybersecurity. By working with our local K-12 and higher education institutions, you will not only help guide curriculum and workforce readiness, but you will also spark the interests of young students to get into this incredible career path.

Next month: Sizing up cyber insurance. n

Jason Albuquerque is the chief operating officer of Pawtucket-based Envision Technology Advisors LLC. You can reach him through www.envisionsuccess.net.

30 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com IT’S PERSONAL
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Cybersecurity workers continue to be in high demand.

WHEN MEDIA ICON Barbara Walters passed away in December, I was taken by how her death impacted me. Walters was a pioneer in the world of broadcast journalism for women and for men as well. She didn’t just break the glass ceiling, she totally changed the way we look at it.

Walters was a role model for me as I began interviewing people in 1982, when it certainly wasn’t the norm or fashionable especially for women and for my subject matter, which was positive people, positive living, positive business and now positive aging.

I watched Walters over the years. Her style, her influence and her depth really motivated me. When you are a pioneer, you are blazing a new trail that many don’t understand. Pioneers pave the way with a lot of trial and error, and a lot of grit.

I am in the minority in my career pursuits and passion at my age, but I won’t be for long because in the next decades, with advances in medicine and technology, more people will continue to work past the age of 65.

As I look at my career, with all of the ups and downs of being a trailblazer and an entrepreneur, I’ve been very fortunate to meet many amazing role models.

Be your own trailblazer

Here are 10 suggestions for those of us in our “prime time” staying at work and in our careers:

n Find those role models at any age. Find people with passion, energy and curiosity.

They can be people in your field or anyone who inspires you. Read about them and learn about their methods and strategies.

n Debunk those myths about aging and stay current with technology. In 2010, the Pew Foundation reported that only 43% of people 65 and over used the internet; that number grew to 75% in 2021. Computer use is growing fastest in the over-65 population.

n Learn new skills in the workplace. As practices and methods change and new ones are developed, we need to adapt to new technology and innovations.

n Be resilient with those physical,

mental and emotional challenges. We may have to make adaptations to the way we did things before, as the strength of our abilities may change.

n Prepare for the loss of friends, family and colleagues. Honor those memories and learnings and use them as a beacon of light so that you can continue to move forward.

n Be a mentor. You have so much experience from everything you’ve been through. Find someone who’s hungry to learn. It’s a great gift to mentor for both the student and the teacher.

n Understand that all of our experiences, both positive and negative, add to the richness of our lives. As you move forward in your work endeavors, keep doing what works and use the mistakes as lessons. One of the greatest gifts in our older adult years is the experience and wisdom we have

RE-IMAGINING the workforce of today & IDENTIFYING solutions for tomorrow.

This new PBN annual publication, focusing on workforce development and career opportunities in our region, will serve as a resource for employers and job seekers, targeting Rhode Island’s emerging workforce.

Rhode to Work will feature information about careers in seven essential industries in our area.

DATE: September 29, 2023

August 25, 2023

gained.

n Take financial risks in your work/career that are within your comfort zone. Keep your reserves so that you can enjoy your work without excess concern. Security and safety are some of our basic needs.

n Keep your goals reasonable and manageable. Short-term goals are best while keeping in mind your overall mission.

n Stay current in your field. New innovations are always in development. Implementing those that work for you can bring dividends to your company or organization.

More businesses, companies and organizations are beginning to recognize and seek out those of us in prime time for ideas, new ways of doing things and as a sounding board. And as long as we are here, we have an opportunity to learn, contribute, grow and enjoy our lives. n

Patricia Raskin is an award-winning radio producer and owner of Raskin Resources Productions. She hosts and co-produced the 13-part Positive Aging Podcast series co-produced by Rhode Island PBS. She was a recipient of a Providence Business News Leaders & Achievers Award in 2020.

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Business lacking bigger voice in state’s net-zero plans End delay on cannabis commission

PLUGGED IN:

Zachary Cobb, left, Hexagon Manufacturing Intelligence Inc. vice president of services, and Steven Ilmrud, vice president of operations, are knowledgeable about the state’s Act on Climate law, but many businesses aren’t.

Rhode Island made a landmark commitment to slashing greenhouse gases emanating from the state when the General Assembly passed the Act on Climate law in 2021.

It set an ambitious goal of reaching net-zero emissions in less than 30 years. In other words, nearly completely negating the greenhouse gases produced by human activity by 2050.

That sounded great. In a region that could be ravaged by future sea-level rise, the Ocean State was doing its part to slow climate change.

But two years later, reality is setting in.

Preliminary modeling suggests that the state could miss an upcoming 2030 target – a 45% cut in carbon emissions from the 1990 baseline. And the details on how to reach that goal and future ones are still being developed.

As this week’s cover story reports, state leaders in charge of overseeing net-zero efforts also have done an insufficient job of looping in the business community.

It’s no secret that businesses have a massive carbon footprint – particularly in the manufacturing sector – but few businesspeople seem to have a clear sense of what the Act on Climate is asking of them.

David M. Chenevert, executive director of the Rhode Island Manufacturers Association, says his members aren’t against reducing greenhouse gases. But he says there’s been precious little information about how they’re going to reach the goals and how it’s going to be paid for.

Rhode Island might be poised to miss its first emissions target in 2030, but unless the business community becomes a bigger part of the process, the state is bound to miss much more than that. n

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Yes: 100%

No: 0%

Are recession fears affecting your company’s plans to hire employees?

Yes: 60%

No: 40%

Should the government reduce the costs of businesses to help avoid recession-related problems?

No: 60%

Yes: 40%

PBN.COM POLL

It’s been nearly a year since state lawmakers passed legislation to legalize the recreational use of cannabis. But while existing medical cannabis dispensaries started retail operations on Dec. 1, not much else has happened.

Although the law that Gov. Daniel J. McKee signed last May gave him 40 days to appoint a regulatory commission, that deadline has long since passed with no action. As a result, regulations governing cannabis businesses haven’t even been drafted and it’s unclear when nearly two dozen more retail licenses will be issued.

Meanwhile, the lack of rules on marketing and advertising cannabis products has left existing licensed retailers unsure of what to do. It’s not a good position to be in when facing stiff competition from cannabis stores in Massachusetts.

Yes, it can be prudent to move cautiously when setting up a framework for an entirely new sector, but regulators need to be appointed so those discussions can begin. In the meantime, potential state and local cannabis revenue is slipping away across state borders. n

Are you confident in the solvency of local banks following the recent failure of two others in California and New York? MARCH 17-23

Yes, those were isolated cases of poor management and oversight 71%

No, federal regulation is too lax 18%

I’m not sure 10%

THIS WEEK’S POLL: Should Rhode Island be moving faster to expand its retail cannabis sector?

• Yes, the state’s cannabis industry is too undeveloped right now to compete with nearby states

• Yes, the quicker licenses are issued, the quicker state and local governments can reap more revenue

• No, the state should be taking its time to ensure it is done right

• No, recreational cannabis use should not have been legalized in the first place

•I’m not sure

To vote, go to PBN.com and follow the link on the home page

32 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com Read even MORE business news on PBN.com Your subscription to our print edition includes unlimited access to current articles and archives on our website. PBN publishes an average of a dozen new stories each day See what you’re missing by signing on today, and every day! Go to PBN.com and click on Sign In/ Register on the top of your screen. For assistance, call 401-680-4810 or 855-813-5805. You can also sign up for free daily e-newsletters featuring breaking news, top stories and industry specific reports: PBN.com/email OPINION
EDITORIALS
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OPINION

Remove FDIC cap to prevent future panic

CHRISTOPHER V.BIL OTTI GUEST COLUMN

We learned the hard way in 1932 that a crisis in confidence, which could be sparked by baseless rumors, could create a bank run that could bankrupt even a healthy bank. To protect our banking system, in 1933, the federal government created the Federal Deposit Insurance Corp. with the goal to insure depositors against loss. Eliminating the risk of loss to depositors would, in most cases, eliminate a bank run because depositors had no reason to panic and make large withdrawals. The FDIC now insures accounts up to $250,000.

But today in many regional banks, uninsured deposits exceed 50% of total deposits, and banks generally carry liquidity sufficient to satisfy redemptions of less than 10% of their deposits. We are now back in a position in which rumors create runs that can destroy healthy banks because the banks don’t have the liquidity to satisfy the demands of panicked and uninsured depositors.

We are learning the hard way something we already learned 90 years ago. In the case of First Republic Bank, its assets exceed its liabilities by a relatively decent margin even

after taking into consideration write-downs on held-to-maturity bonds, according to the bank’s public filings. That does not mean it is bankrupt (in the technical sense). Its operating income exceeds its operating expenses by a comfortable margin, meaning that it is profitable and not otherwise in danger of becoming bankrupt. And yet, panicked (uninsured) depositors are making withdrawals by the truckload that are driving an otherwise profitable and solvent bank into bankruptcy due simply to a lack of liquidity. This is exactly the problem the federal government created FDIC insurance to prevent.

The Federal Reserve has agreed to (after the fact) insure all depositors of Silicon Valley Bank and Signature Bank. They have made sizable loans to First Republic, and several other large banks have made sizable deposits to replace the deposits withdrawn by worried patrons, but they have stopped short of the one move that would eliminate this crisis immediately.

They need to remove the $250,000 cap on FDIC insurance limits.

This has nothing to do with bailing out

the rich, but it’s a step merely to reestablish confidence in the banks and stop the bank runs that risk collapsing First Republic Bank and many others like it – and perhaps even our entire banking system as we know it. Additionally, this does not contribute to “moral hazard” as many pundits contend. The executives making these risky decisions still lose their jobs and the doors still close on these risky banks. This is not a bailout of the banks. This is a bailout of their customers. The Federal Reserve should still regulate banks to ensure proper capitalization and if these banks are properly capitalized, there is little risk to the FDIC in insuring those deposits.

The Federal Reserve and the U.S. treasury secretary were late to the party on inflation. As a result, they needed to increase interest rates at a pace faster than we have ever seen. Now that the rapid rate increases are causing havoc on our banks, they are proving to be late to the party again. Save First Republic Bank. Save our banking system. Eliminate dollar caps on FDIC insurance immediately. Every day we wait to make this move is a day closer to the collapse of many good, healthy banks and perhaps banking as we know it. n

Is ban on TikTok really needed? There are concerns

TikTok CEO Shou Zi Chew testified before the House Energy and Commerce Committee on March 23 amid a chorus of calls from members of Congress for the federal government to ban the Chinese-owned video social media app and reports that the Biden administration is pushing for the company’s sale

As a cybersecurity researcher, I’ve noted that every few years a new mobile app that becomes popular raises issues of security, privacy and data access.

Apps collect data for several reasons. Sometimes the data is used to improve the app for users. However, most apps collect data that the companies use in part to fund their operations. This revenue typically comes from targeting users with ads.

So what makes TikTok different from the likes of Pokemon-GO, Facebook or even your phone itself? TikTok’s privacy policy, which few people read, is a good place to start. Overall, the company is not particularly transparent about its practices. The document is too long to list here all the data it collects, which should be a warning.

There are a few items of interest in TikTok’s privacy policy, besides the information you give them when you create an account, that are concerning. This information includes location data, data from your clipboard, contact information, website tracking, plus all data you post and messages you send through the app. The company claims that current versions of the app do not collect GPS information from U.S. users. There has been speculation that TikTok is collecting other information, but that is hard to prove.

If most apps collect data, why is the U.S. government worried about TikTok? First,

they worry about the Chinese government accessing data. There is also a concern about the algorithms used by TikTok to show content.

If the data does end up in the hands of the Chinese government, the question is how could it use the data to its benefit. The government could share it with other companies in China to help them profit. The Chinese government is known for playing the long game, and data is power, so if it is collecting data, it could take years to learn how it benefits China.

One potential threat is the Chinese government using the data to spy on people, particularly people who have access to valuable information. The Justice Department is investigating TikTok’s parent company, ByteDance, for using the app to monitor U.S. journalists. The Chinese government has an extensive history of hacking U.S. government agencies and corporations, and much of that hacking has been facilitated by the practice of using data about people to trick them into revealing more information.

The second issue that the U.S. government has raised is algorithm bias or algorithm manipulation. TikTok and most social media apps have algorithms designed to learn a user’s interests and then try to adjust the content so the user will continue to use the app. TikTok has not shared its algorithm.

The algorithm could be biased in a way that influences a population to believe certain things. There are numerous allegations that TiKTok’s algorithm is biased and can reinforce negative thoughts among younger users, and be used to affect public opinion.

If the federal government comes to the conclusion that TikTok should be banned,

is it even possible to ban it for all of its 150 million existing users? Any such ban would likely start with blocking the distribution of the app through Apple’s and Google’s app stores. This might keep many users off the platform, but there are other ways to download and install apps.

A more drastic method would be to force Apple and Google to change their phones to prevent TikTok from running. While I’m not a lawyer, I think this effort would fail due to legal challenges. The bottom line is that an absolute ban will be tough to enforce.

There are also questions about how effective a ban would be even if it were possible. By some estimates, the Chinese government has already collected personal information on at least 80% of the U.S. population via various means. So a ban might limit the damage, but the Chinese government has already collected a significant amount of data. The Chinese government also has access – along with anyone else with money –to the large market for personal data, which fuels calls for stronger data privacy rules

The aspect of TikTok I find most concerning is the algorithm that decides what videos users see and how it can affect vulnerable groups, particularly young people. Independent of a ban, families should have conversations about TikTok and other social media platforms and how they can be detrimental to mental health. These conversations should focus on how to determine if the app is leading you down an unhealthy path. n

Doug Jacobson is a professor of electrical and computer engineering at Iowa State University. Distributed by The Associated Press.

www.pbn.com | PROVIDENCE BUSINESS NEWS | MARCH 31-APRIL 13, 2023 | 33
Christopher V. Bilotti is managing partner at NAI Advisors, a full-service commercial real estate brokerage based in Providence.
This does not contribute to ‘moral hazard’ as many pundits contend.
OPINION

ONE LAST THING

IT

really is lonely at the top.

When you’re the top executive, you typically experience a sense of isolation and caution about what you say to whom.

When you’re in the top seat, employees expect you to have the answers, make the right decisions and keep their jobs secure. All eyes are on the chief executive, but where does a CEO find an unbiased sounding board, engage in confidential peer conversations and build friendships without expectations?

Thousands of peer groups exist because candid conversations about common challenges are invaluable. That’s why the Rhode Island CEO Council was created – so R.I.-based chief executives have a safe place to let down their guard and talk about the challenges they can’t discuss elsewhere, build relationships with peers who lead like-sized organizations, gain new ideas directly from other successful leaders and have ongoing opportunities to impact the future of our state.

Our members hold various titles – president, CEO, executive director, managing partner and division general manager – and lead private, public, family-owned and nonprofit organizations with small, medium and very large workforces. No substitutes are permitted – only top executives attend – so conversations are always confidential and peer to peer.

The best part is that all of our members are working together to achieve transformative and extraordinary results that take their organization to the next level. And that has a profound impact on all stakeholders, from employees to customers, from our local communities to the nation and beyond. n

Originally founded in 2006 as the Chief Executives Club, the Rhode Island CEO Council was relaunched last year. Membership is exclusively for R.I.-based chief executives of companies with 10 to 10,000 full-time employees.

Where CEOs aren’t alone

34 | MARCH 31-APRIL 13, 2023 | PROVIDENCE BUSINESS NEWS | www.pbn.com
PBN FILE PHOTO/TRACY JENKINS
Robert Fiske Rhode Island CEO Council founder and CEO

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We are committed to being a Great Place to Work for our teammates in Rhode Island and around the globe. This includes providing leading benefits, minimum wage at $22/hr on track to $25/hr by 2025 and opportunities to build a career with us. These are key reasons we’ve been named America’s Most JUST Company.

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