How to Save Downtown: Business Leaders Respond
Monday, March 28, 2011
Saving downtown Providence, they say, will take a director who is committed to creating a more business-friendly climate in the city, but also someone willing to think outside-the-box to attract new businesses and make Providence a destination location for tourists from all over the country.
The city launched a nationwide search to fill the cabinet-level position two months ago, but city spokesperson David Ortiz said the eight-member search committee is still reviewing applications and an “announcement is not imminent.”
Byzantine Regulatory Processes
One of the new director’s first priorities, according to real estate owner Arnold “Buff” Chace (at left below) should be to streamline the processes both existing and incoming businesses go through when dealing with the city.
Chace said the city needs to “explicitly support entrepreneurial activity,” and making it easier to open a business is the right place to start.
“Finally committing to and accomplishing the demystification of the city's Byzantine regulatory processes which continues to be totally ‘anti’ to new business formation,” Chace said in e-mailed list of priorities the city should have for revitalizing downtown.
Meet With Growth Industries
Former Providence mayor and downtown property owner Joseph Paolino said another top priority for the new director should be to meet with the hospitals and universities to understand what their goals are moving forward.
He said the director should ask the nonprofits to deliver their 10-year plans for growth.
“Then the Economic Development Director should sit with the mayor and ask, 'What can we do to turn those 10-year plans into three-year plans?'”
City Needs A Cheerleader
But it’s not all about regulatory processes and long-term growth plans, Paolino insists. He said the next director needs to be an energetic promoter who can truly sell the city, the way another former mayor, Vincent A. “Buddy” Cianci, was able to do.
“The city needs someone who can instill some spirit,” Paolino said. “They need to make people feel good about Providence again.”
Paolino praised Mayor Angel Taveras for joining Governor Lincoln Chafee in Houston last month to learn about the work being done around hospitals and universities in Texas. He said the mayor should take the time to visit other cities and learn what they are doing to attract tourists.
“The mayor and the director have to visit Miami in December,” Paolino said. “They’ve got Art Basel, a week-long festival for the arts that brings tourists from all over. Providence could do something similar in the spring. It would bring swarms of people to the city.”
Zachary Darrow, a downtown lawyer who is also working as a special advisor to Mayor Taveras on the I-195 project, agrees with Paolino. He said the next director will be able to assess economic development opportunities brought to the city and also seek out new ways to grow business there.
“The ability to have a designated person analyzing and identifying economic development opportunities, as well as executing upon those initiatives that are selected by the city for pursuit, will lead to a more efficient and effective mechanism for maximizing economic growth within the city,” Darrow said.
Assessing Vacancies
Darrow said the existence of an Economic Development Director should serve as a significant step toward strengthening relationships with businesses and real estate owners in the city. But Paolino believes the director also needs to sit down with property owners and figure out a way to address the many vacant spaces downtown.
According to a report issued by CB Richard Ellis, the downtown vacancy rate at the end 2010 was 18.9 percent. With businesses like Curt Schilling’s gaming company, 38 Studios, moving into the city, that rate is expected to lower throughout the first half of this year.
Waiting for Superman
But more needs to be done according to Paolino, especially when it comes to the Bank of America building downtown.
“They need to go down to North Carolina and meet with [CEO] Brian Moynihan,” Paolino said. “They should bring in Senator Reed and Treasurer Raimondo and ask why the Superman building is only half full. They should make sure Bank of America renews their lease and fills the rest of the building.”
A Simple Formula
It all goes back to making life easier for residents and business owners in the city.
Paolino agreed.
“Just fill all the potholes,” he said. “That’s a start.”
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