Jim S. Bennett Appointed Interim Secretary of Rhode Island Commerce

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The vibrant cityscape of Providence, Rhode Island, symbolizes economic growth and development.

News Summary

Governor Dan McKee has appointed Jim S. Bennett as the new interim secretary of Rhode Island Commerce. With over 40 years of business experience, Bennett aims to boost the state’s economy, attract larger corporations, and redevelop the vacant Superman Building. His extensive background in economic development positions him for success in this key role, succeeding Liz Tanner amidst notable turnover in the department.

Providence, Rhode Island – Jim S. Bennett has been appointed the new interim secretary of Rhode Island Commerce by Governor Dan McKee. With over 40 years of business experience, Bennett is expected to bring a wealth of knowledge and expertise to this pivotal role.

Bennett expressed excitement about the challenge ahead, indicating a focus on helping state government operate at the speed of business. His background includes pivotal positions in both public and private sectors that align with the goals of Rhode Island Commerce, particularly the attraction of larger corporations to the state.

Before taking on this interim role, Bennett served as the executive vice president of Prospect Medical Holdings from 2015 to 2023. His impressive portfolio also includes leadership positions such as the president and chief operating officer of Rhode Island Commerce and director of economic development for the City of Providence from 2011 to 2015. His extensive experience in economic development makes him a strong candidate to lead the state’s commerce department.

As interim secretary, Bennett has several specific objectives. He aims to attract larger corporations to Rhode Island, which has the potential to stimulate job creation and strengthen the state’s economy. Notably, he plans to redevelop the long-vacant Superman Building into hundreds of apartments, a project that could transform a significant downtown space into a vibrant area for residents.

Bennett demonstrated his capability for economic growth in past initiatives, such as bringing Organogenesis Holdings Inc. to Rhode Island. This endeavor required securing nearly $20 million in tax incentives for a new manufacturing facility in Smithfield, a move anticipated to bolster local employment.

His history with Rhode Island’s economic initiatives dates back decades. As a board member of the Rhode Island Convention Center Authority since 1995, Bennett has been actively involved in projects that shape the state’s economic landscape. He resigned as chairman in 2015 but continued to maintain connections within the state’s economic development efforts.

In addition to his public service, Bennett has a diverse background in the private sector. He is the founder of Madison Components LLC, which has since closed, and has established environmental testing firms such as Mitkem Corporation and Ceimic Corporation. Bennett also co-founded an investment firm named Albert, Bennett & Co., although it had its registration canceled in 1988.

Bennett’s political aspirations have also been noteworthy; he ran for state treasurer in 1998 and for governor in 2002, though he did not win either race. He graduated from Brown University in 1979, where he was an athlete and later honored with induction into the university’s Athletic Hall of Fame in 2000. Bennett is registered to vote in Narragansett, R.I., and owns property in Florida, indicating connections that extend beyond the state.

Bennett takes over the role from Liz Tanner, who served as secretary for three years and is transitioning to lead a nonprofit organization called Ocean State 2026. This organization will focus on economic opportunities related to the 2026 World Cup, an endeavor Tanner prioritized during her tenure alongside efforts to support small businesses and post-pandemic economic recovery.

The appointment of Bennett marks a continuation of significant turnover in Rhode Island’s commerce agency, as he becomes the fourth person to lead the department in the last two years. Governor McKee has high expectations for Bennett’s leadership, particularly in the realm of enhancing the state’s economy and generating job opportunities.

Bennett’s salary for this interim position is set at $185,000, a figure indicative of the responsibilities he will assume in navigating the state’s economic challenges ahead.