Rhode Island Business Leaders Express Cautious Optimism About Economy During Annual Forum Hosted by Santander Bank and Greater Providence Chamber of Commerce

Santander Bank, N.A. (“Santander” or “the Bank”) and the Greater Providence Chamber of Commerce today hosted their 21^st Economic Outlook Breakfast for Rhode Island’s business community. Approximately 300 people gathered at the Crowne Plaza in Warwick, Rhode Island for the event, which gives business, education, healthcare, government and community leaders a forum to discuss the economy and changing dynamics of Rhode Island.

Given the current supply chain landscape and growing emphasis on nearshoring, this year’s panel of economic experts and local business leaders focused on how businesses can reduce supply chain disruptions and increase sustainable business practices overall. The panel included Eva Mancuso, Director, John H. Chafee Center for International Business at Bryant University, Stephen Stanley, Chief U.S. Economist, Santander US, Karl Wadensten, President & CEO, VIBCO Vibrators, and Ted Williams, President, Senesco Marine.

“Our purpose is to help people and businesses prosper. We’re committed to working with the Greater Providence Chamber of Commerce, as well as business and elected leaders in leveraging Rhode Island’s considerable strengths and promoting a more vibrant, innovative, diverse and inclusive economy,” said Michael Lee, Senior Executive Vice President and Managing Director of Commercial Banking at Santander Bank. “Rhode Island has key advantages that make it attractive for businesses and the talent they need to be successful, including an ideal transportation infrastructure to support local and international business. Santander’s position in the U.S. and global presence and scale is critically important to our customers that are looking to grow their businesses during current economic conditions, expand internationally, and bring their supply chains closer to the U.S.”

Santander Bank pioneered new solutions to help small to mid-size middle market clients navigate trade, find alternative suppliers and introduce them to global buyers and sellers interested in their products. This includes Trade Club Alliance, a unique global network of banking groups that connect businesses with potential partners in new, international markets and offer a wealth of relevant trade expertise.

Lee, along with Laurie White, President, Greater Providence Chamber of Commerce, provided welcome remarks, followed by introductions from Governor Dan McKee and Tim Wennes, Santander US CEO and Santander Bank President & CEO. Attendees then responded to a series of economic and business climate-related questions during a real-time survey that revealed their perspectives around the economic challenges that Rhode Island faces, as well as the opportunities for development.