The outsourcing/offshoring industry in Rhode Island has been steadily growing over the past few years. This industry involves companies hiring external firms or individuals to perform tasks that were previously done in-house. Offshoring, on the other hand, involves outsourcing to a foreign country. Rhode Island has seen an increase in outsourcing/offshoring in industries such as technology, healthcare, and finance. This is due to the state's highly educated workforce and its proximity to major cities like Boston and New York. One of the major benefits of outsourcing/offshoring is cost savings. Companies can save money by hiring external firms or individuals who can perform tasks at a lower cost than in-house employees. This can be especially beneficial for small businesses that may not have the resources to hire a full-time employee. However, outsourcing/offshoring can also have negative effects on the local economy. It can lead to job losses and a decrease in wages for workers i...

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