State trade fact sheets - Rhode Island

Revolutionizing the American Restaurant Industry

Montreal-based Lightspeed POS Inc., a leading provider of cloud-based, omnichannel commerce platforms, announced on December 1, 2020, that they acquired Rhode Island’s Upserve Inc., a leading restaurant management cloud-software company. The acquisition strengthens Lightspeed’s position as an industry leader with high-performing restaurateurs across the U.S. as those restaurants refine the digital dining experience. Combining with Upserve will grow Lightspeed’s position in the U.S. hospitality market by an additional 7,000 customer locations. Upserve has over 300 employees in Rhode Island.

Textron Equips Canadian Forces

Providence-headquartered Textron Systems supplies the Canadian Forces Tactical Armoured Patrol Vehicle (TAPV) program. The company provided overall program management and design, coordinated a team of companies for vehicle assembly and integration, provided direct product support, managed the in-service support contract, and executed an Industrial Regional Benefits program. The contract was valued at over $600 million. Textron Systems delivered the TAPVs to the Canadian Army, distributed across seven bases. The Canadian Army expects these vehicles to be in service for the next 25 years.

Canadian-Owned Companies Support Rhode Island Jobs

43 Canadian-owned companies operate in Rhode Island. These companies create nearly 1,100 jobs in the state, contributing $65 million in salary dollars annually. Canadian-owned companies, including Ocean State Power, TD Bank and Putnam Investments are clearly major contributors to Rhode Island’s economy, employing residents in every sector of the economy, paying taxes locally and contributing to the local economy through these salary dollars.