RIEDC Names J. Michael Saul New Managing Director of Finance Programs
July 12, 2007 | Print this page | Share This |
Saul set to manage current programs, focus on updating to outdated portfolio of business financing tools
J. Michael Saul has accepted a permanent position at the Rhode Island Economic Development Corporation (RIEDC) as Managing Director of Finance Programs. Saul will manage the agency's portfolio of financing programs and, after completing a comprehensive review of the state's current financing tools, recommend a plan for updating the platform to better match the needs of Rhode Island companies.
Saul, who also serves as executive director of the Urban Revitalization Fund (TURF), began his partnership with RIEDC in January 2007, when TURF and the RIEDC created a new alliance to align the financing programs offered by both organizations.
Assigning Saul to this role is an important step toward modernizing the state's portfolio of financing tools and creating a stronger platform for economic growth in Rhode Island, said RIEDC Executive Director Saul Kaplan.
"In his new role, Mike Saul will work to bring more visibility to the programs available to businesses in Rhode Island, streamline access to the state's financial products, and recommend updated programs that better reflect Rhode Island's economic development goals," said Kaplan. "Creating a set of financing tools that optimally address Rhode Island's economic challenges and opportunities is critical to growing a 21st century innovation economy that produces higher wage jobs at every wage level."
Saul brings extensive experience to the job. A former banking and business executive active in urban economic and community initiatives, he was a founder and director of the Minority Investment Development Corporation, Chair of the Rhode Island Urban Project and Trustee and Development Committee Chair of the Providence Performing Arts Center.
"Many of Rhode Island's current financing programs are outdated and reflect old assumptions about what a business needs to grow," said Saul. "We have an important opportunity to take stock of what is working and what's not, and to design and implement a set of financing programs that will create a stronger economy and better job opportunities for all Rhode Islanders."
Saul will assume his new responsibilities immediately.
