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2/19/2026
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Legislative leaders laud FM expansion in downtown Providence
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STATE HOUSE — Legislative leaders including Speaker of the House K. Joseph Shekarchi (D-Dist. 23, Warwick) and Senate President Valarie J. Lawson (D-Dist. 14, East Providence) are lauding an announcement today by Rhode Island-headquartered commercial property insurer FM on its purchase of 10 Memorial Boulevard, a 10-story premier commercial office building in the heart of downtown Providence that will serve as a strategic addition to its growing business and global office footprint.
In a joint statement, President Lawson and Speaker Shekarchi said: “This substantial new investment, in the heart of Providence’s downtown, is great news for our state. FM is a deeply valued neighbor and employer, and we are thrilled they will continue to grow right here in Rhode Island. Fostering an environment that supports the needs of businesses and helps them to thrive – especially those businesses that have made our state their home – continues to be a top priority for the General Assembly.”
The transaction represents an important new investment by FM in the city of Providence and the state of Rhode Island. FM intends to occupy a portion of 10 Memorial Boulevard while maintaining the current multi-tenant profile of the building.
“This investment reflects FM’s confidence in Rhode Island and our commitment to creating spaces that attract world-class talent and strengthen client relationships,” said Randy Hodge, chief operating officer of FM. “FM has been proud to call Rhode Island home for nearly 200 years, and this expansion in the state’s capital is a natural choice for our next chapter of growth.”
The purchase of 10 Memorial Boulevard comes amid FM’s continued strong performance and complements FM’s broader strategy to expand in key global cities. Regionally, FM’s real estate expansion along Amtrak’s East Coast corridor includes newly leased space in Boston’s South Station Tower and the company’s plans to open the FM Science and Technology Center, Americas, in Norwood, Massachusetts, in 2026.
This sizeable investment by one of Rhode Island’s largest private employers will enhance FM’s regional connectivity, foster collaboration, and improve access to top talent and client partners. From its founding in 1835 to today’s global footprint, FM’s roots in Rhode Island remain deep and enduring.
For more information, contact:
Daniel Trafford, Publicist
State House Room 20
Providence, RI 02903
(401)222-1922
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