Description
The Rhode Island Commerce Corporation seeks a qualified firm (or firms) to deliver a Manufacturing Succession Readiness Program for Rhode Island‑based manufacturers. The program aims to help owners and employees prepare for business succession, develop a pipeline of qualified local buyers (including employee‑owners), and facilitate matchmaking among sellers, buyers, and service providers. The scope is divided into three optional tasks—Owner Support, Buyer Development, and Matchmaking—with a combined maximum award of $340,000 and a project window from September 2026 through September 30 2027. Proposers must submit a detailed technical approach, staffing plan, budget, and evaluation methodology by August 5 2026.
• Task 1: Provide education, valuation, legal, financial, and leadership services to owners (up to $150k).
• Task 2: Recruit and train local “would‑be” buyers, emphasizing employee‑ownership models (up to $150k).
• Task 3: Conduct networking, peer‑learning, and matchmaking events (up to $40k).
• Eligibility: Serve manufacturers with ≥5 on‑site employees, ≥50 % RI‑resident ownership, and good standing in RI.
• Evaluation: Scored on approach, strategic planning, experience, cost‑effectiveness, local familiarity, and diversity participation (up to 6 extra points).