Meet the Candidates: Ray Mathieu

GoLocalProv News Team

Meet the Candidates: Ray Mathieu

Ray Mathieu
Meet the candidates this election year. GoLocal is featuring the candidates for General Assembly, those running for Mayor in cities across the state, and the Congressional candidates. This feature allows each candidate the opportunity to express their views on the issues. 

Meet candidate Ray Mathieu. He is an Independent running in House District 1 in Providence against Rep. Edith Ajello. 

 

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1.  What do you think is the biggest political issue this campaign season in Rhode Island?  

Anyone who doesn’t think the RI economy, or lack thereof, is the biggest issue facing RI should not be running for election or reelection.  RI is 50th out of 50 States with respect to Economic and Business Development. For the past 15 -20 years the RI economy has slowly continued to deteriorate as businesses moved to other States with more favorable business climates while RI’s elected officials have focused on their own self interests. 

Without the expanded tax base generated by a booming economy, it will be impossible for the State to continue its bloated rate of increased wasteful spending which should be curbed by eliminating needless redundancy in government and redirected to rebuilding our infrastructure and improving our below average public education systems. We need a booming RI economy to provide jobs for the graduates of the terrific institutions of higher learning located throughout RI, otherwise we are just training graduates, our most notable and precious assets for jobs outside of RI.

 

2.  What do we need to do to improve Rhode Island's economy? 

State and Municipal governments must work together intelligently with the private profit and not for profit sectors to create a business environment which not only attracts (not just through tax incentives) outside businesses to come to RI but also encourages the businesses that are already here to stay here (not leave like Tee Spring) as well as encourages entrepreneurs, both young and old, inexperienced and experienced, to create and grow new businesses here in RI.  I’m talking about real businesses with real jobs.

There is a wealth of ideas and research coming out of RI’s universities and research hospitals many of which can form the bases for creating RI based companies which can produce and sell world changing products while creating exciting careers for RI residents.
  

3.  What is the greatest challenge facing Rhode Island as a state?

As I stated above, improving the State’s economy is its greatest challenge. One of the things which have made this such a challenge is the failure to break down the silos of self interests which have led to the State’s economic stagnation.

With 39 cities and towns we have far too much public sector overhead for a State the size and population of RI. These costly inefficiencies make it difficult, if not impossible, to get everyone on the same page and rowing in the same direction, not to mention making it difficult to attract outside businesses to the State. Not only must we consolidate and eliminate needless public sector overhead, but we have to make our government more ethical. After all no one wants to do business with a bunch of crooks.

Businesses looking to come into a new State consider many factors; one of the most important is the public school education system. Businesses want to not only be sure that they have a source of well educated employees, but that the families of the employees whom they relocate into the State have a good public school system. RI’s schools are generally sub par and, therefore need to be vastly improved, if we are going to attract new businesses.

 

4.  Why are you running for office? 

I have lived and worked in RI virtually my entire life. After successful careers in banking (Fleet, Old Stone) and private equity (CFO of Providence Equity Partners for 25 years), I retired in 2012 and looked for ways to use my background knowledge and expertise to help improve the RI Economy. I sit on non profit boards which attempt to do just that (Slater Technology Fund, Business Development Company of RI, RI Biz Plan Competition, ​OSHEAN) and invest my own money in RI based start ups through Cherrystone Angel Investors, but I’m disappointed in our government’s lack of real commitment to growing the RI economy from within when we have such talented people and resources RIght here. I hope as an elected official I can get the government to work more closely with the private profit and non profit sectors to spark the RI economy.

Just to be clear I’m doing this because I believe that if folks like me don’t step up and do what is best for the State, then we can’t complain about the folks that get elected. I am not looking for a career in politics (I’ve already had two successful careers in banking and private equity) or to serve any special interest groups other than the RI taxpayers.

  

5.  Who is your inspiration?

John H. Chafee, Bruce Sundlun​, Ronald Reagan, and Colin Powell.

Mathieu's experience includes Managing Director/CFO of Providence Equity, a $23B private equity firm with offices in Providence, New York, Los Angeles, London, Hong Kong, and New Delhi. Industry experience includes financial services, online education, software, ecommerce, low tech consumer products, professional services, and health care. Board experience includes a real estate social marketing platform website, a pre-natal vitamin company, a bake goods manufacturer, a high speed broadband data transmission and telecommunications service provider, and the Slater Technology Fund. University of Rhode Island M.B.A. and B.S. 


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