Op-Ed: Rhode Island is losing its iconic businesses. Employee ownership could keep the doors open.

Published on Friday, September 12, 2025

PROVIDENCE, RI — The Boston Globe today published an op-ed column from Rhode Island Lieutenant Governor Sabina Matos on her proposal for a Rhode Island Center for Employee Ownership. An excerpt is below:

"How many times have you seen the headline “Legacy Rhode Island business to shut its doors after 100 years?”

"From the Old Canteen to our beloved Benny’s, it seems that every day we learn of another legendary business in our state closing shop or being hollowed out by a billionaire buyer. It’s the same story every time: laser-focused on running their business, the owners didn’t have the time or resources to create a succession plan until it was time to hang up their aprons and enjoy retirement.

"By not helping them plan for their next steps, Rhode Island is losing our iconic businesses and the workers who made them a success are losing their jobs. If we want to save more businesses from disappearing, we must act urgently..."

The rest of the op-ed can be read here: https://www.bostonglobe.com/2025/09/12/metro/commentary-ri-sabina-matos-business/