Because tech is one of the fastest-growing industries in the nation, states across the U.S. are vying for the favor of promising startups and big-name companies that will bring more opportunities to innovate to their state.
What should CEOs focus their attention on when discerning where to relocate or expand a tech business? Consider those states where government leaders understand the area’s unique tech landscape and are actively cultivating it.
Consider, too, where other tech companies are planting roots. The answer may not include “Silicon” or “Valley.”
It’s states like Rhode Island that have things to offer along the entire work-live-play continuum that are proving the most attractive.
“In today’s knowledge-driven economy, no resource is more important than human capital.”
That’s why Virgin Pulse has announced that its existing Providence office has become its new global headquarters and that it will add nearly 300 jobs in the state by 2021. “We have a front-row recruiting seat to all the great universities here,” said Virgin Pulse CEO David Osborne.
And Infosys, which will bring 500 tech jobs to Providence by 2022, chose Rhode Island because of its “educational institutions, design-rich environment and economic development tools,” according to president Ravi Kumar.
Johnson & Johnson has opened a health technology center in the state and will be a tenant in the new Wexford Science & Technology innovation center, and both GE Digital and Priceline’s Agoda picked Providence for their expansions, announcing plans to hire hundreds of employees from top universities like Brown, Johnson & Wales University, the Rhode Island School of Design and the University of Rhode Island.
It’s natural for CEOs to focus on the tax credits and other financial incentives that states offer, but you should also look for indicators that local talent is being groomed specifically to perform in your sector. In today’s knowledge-driven economy, no resource is more important than human capital.
Rhode Islanders benefit from being exposed to STEM at all levels of their education, as computer science is now taught in every public classroom. The state is also home to some of the highest-caliber four-year academic institutions in the country, and it works to keep that talent local by offering incentives such as the Wavemaker Fellowship, a student loan reimbursement program for recent graduates who stay in Rhode Island to work in tech design fields.
Rhode Island elected officials have fought hard in recent years to shape the state into the best place in New England to build a tech business, cutting the corporate minimum tax by 20% and creating programs like the Qualified Jobs Incentive Act, which provides companies with annual tax credits of up to $7,500 per job created per year.
But part of the state’s appeal is organic, effortless—it can claim 400 miles of scenic coastline, inviting residents to enjoy sailing, beaches and resorts. And Providence, which is famed for its cultural and foodie scene, has been called “America’s coolest city” by GQ.
In Rhode Island, as in other top markets for tech companies, it’s as simple as this: Great companies thrive because of great people, and great people want to live in great places.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
0
1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
