Business

A look at What’s Up in business in Newport, Rhode Island, and beyond.
Posted inBusiness

MVYRADIO’s Laurel Redington wins Massachusetts Broadcasters Association Award

by Ryan Belmore

WEST TISBURY, MA — MVYRADIO’s Laurel Redington has won a Massachusetts Broadcasters Association Awards for a segment she produced in 2021.The segment originally aired on MVYRADIO’s Sunday Morning public affairs show “The Vineyard Current” on WMVY 88.7FM. In the category of “Feature News Story,” Redington won First Place for a piece entitled “9/11- A Soldier’s Story.”  […]

Posted inCity & Government

Lieutenant Governor Matos launches the 2022 Rhode Island Entrepreneurship Challenge

by Ryan Belmore

Lieutenant Governor Sabina Matos today kicked off Rhode Island’s fourth Lieutenant Governor’s Entrepreneurship Challenge, a business pitch competition aimed at high school students across the state. In addition to helping students learn about the process of writing and pitching a business proposal, the competition will also award more than $10,000 in postsecondary scholarships. “The LGEC […]

Posted inBusiness

People’s Credit Union invites the community to contribute to its Centennial Time Capsule

by Ryan Belmore

As part of People’s Credit Union’s year-long centennial celebration, People’s Credit Union announced today that it will be creating a Centennial Time Capsule to commemorate its milestone of serving the community for over 100 years. The time capsule is slated to be sealed in January of 2023. People’s Credit Union is inviting the community to […]

Posted inBusiness

Middletown-based Rite-Solutions receives three Navy contracts worth $68 million

by Ryan Belmore

Middletown-based Rite-Solutions today announced that it was recently awarded three contracts by the Naval Undersea Warfare Center Division Newport (NUWCDIVNPT), Naval Information Warfare Systems Command (NAVWAR), and Naval Surface Warfare Center Dahlgren Division (NSWCDD).  Over the next three to five years, the three contracts total $68 million.  Supporting NUWCDIVNPT’s Code 25 Combat Systems Department, Rite-Solutions […]

Posted inBusiness

Cindy’s Country Cafe, Lifestyle Clinic, liquor stores, restaurants, and other businesses for sale right now in Rhode Island

by Ryan Belmore

The latest listings on BizBuySell and LoopNet show all kinds of businesses currently for sale in Rhode Island. Reasons for selling, when provided, typically do not mention economic hardship, but more often involve the owner retiring or not having time to actively run the business. The names and locations are generally left out, but there are occasional exceptions. […]

Posted inBusiness

Rhode Island Black Business Association announces new headquarters, it will serve as an equity business hub

by What'sUpNewp

Today, U.S. Senators Jack Reed and Sheldon Whitehouse joined Lisa Ranglin, Founder, President & CEO of the Rhode Island Black Business Association (RIBBA), along with Providence Mayor Jorge O. Elorza and Neil Steinberg, President and CEO of the Rhode Island Foundation to announce the acquisition of 220 Smith Street to serve as RIBBA’s new headquarters […]

Posted inBusiness

BankNewport donates $10,000 to American Red Cross to support Hurricane Ian relief efforts

by Ryan Belmore

As part of its All In Giving program, BankNewport today announced that it has donated $10,000 to the American Red Cross to aid the organization’s relief efforts in southwest Florida. “While we wish it weren’t needed, we are happy to support the American Red Cross’ tireless efforts to provide vital relief services to the people and […]

Posted inBusiness

‘Holiday Giving Tree’ program kicks off at BankRI

by Ryan Belmore

Marking a generation of helping to brighten the season for children in need, Bank Rhode Island (BankRI) kicks off its 25th annual Holiday Giving Tree program. The signature effort collects gifts for underprivileged kids served by local nonprofits. It begins November 1 at all twenty of the bank’s branch locations and will continue through mid-December. In Middletown, the […]

Posted inBusiness

CVS Health tops 3Q expectations, raises 2022 forecast again

by The Associated Press

By TOM MURPHY AP Health Writer CVS Health booked a third-quarter loss of more than $3 billion after setting aside money for a potential opioid litigation settlement but still beat expectations and raised its 2022 forecast. The health care giant detailed on Wednesday a planned nationwide settlement of lawsuits over how it has handled prescriptions for powerful […]

Posted inColumns

The busy life tax

by Jan Brogan

It began with a bill from the company that had serviced my central air conditioning the year prior. I received a bill, a very high bill, for an annual checkup that I had not yet scheduled nor received. Although the company was nice about reversing the charge, it took two and a half years and […]

Posted inBusiness

The Gamm hosts its annual meeting, ribbon cutting for courtyard

by What'sUpNewp

The Sandra Feinstein-Gamm Theatre (The Gamm) held its annual meeting on Monday, October 24, honoring three outgoing board members and announcing several changes to the executive committee, as well as unveiling a new outdoor courtyard. The evening’s festivities began with a ribbon cutting for the courtyard — the most visible among a slate of ongoing building […]

Posted inCity & Government

Grant applications open to provide businesses with technical assistance, access to capital, and flexible work space

by Community Submission

PROVIDENCE, RI – Governor Dan McKee and the Rhode Island Commerce Corporation today announced that applications for the Network Matching Grant Program are open through November 30, 2022 at 2PM. The program provides matching grants of at least $50,000 to eligible entities providing businesses with technical assistance, creating or expanding capital-access programs, and/or providing space to be used by businesses on flexible terms.
“We have seen the out-sized impact of efforts that meets businesses where they are—whether it means providing targeted technical assistance or access to new operating facilities or low-interest loans or grants,” said Governor Dan McKee. “The Network Matching Grant program provides this type of targeted support and we’re eager to see the types of applications that will emerge in this critical rebuilding year for Rhode Island’s economy.”
Network Matching Grant applications are open to Rhode Island non-profit organizations, for-profit organizations, institutions of higher education, and/or co-working space operators who are supporting advanced industries, opportunity industries, and local-serving industries in the state. This includes industries like life sciences, technology, defense, and the blue economy.
“We are at a critical juncture for Rhode Island’s economy, and programs like the Network Matching Grant can help to catalyze and compound our economic comeback, as well as stand up programs that fill gaps in the support offered in our current ecosystem,” said Rhode Island Secretary of Commerce Liz Tanner. “As an example, we have seen a recent gap in support for technology-related business growth, including fin tech and clean tech. The Network Matching Grants are a clear way to be able to support these and other priority industries.”
The call for applications as well as the application itself can be found at commerceri.com/incentives/innovation-incentives.
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Posted inBusiness

BankNewport’s ‘Kind Heart Fresh Start’ campaign returns to benefit underserved populations

by Ryan Belmore

As part of its All In Giving program, BankNewport today announced the return of the “Kind Heart Fresh Start” campaign.   This year, to meet the most urgent need of community organizations that provide services to underserved populations, BankNewport says the campaign will collect new bedding, including new pillows, pillowcases, pillow protectors, twin and full-size sheet […]

Posted inBusiness

Hasbro sales slip as families tire of playing with inflation

by The Associated Press

By MICHELLE CHAPMAN AP Business Writer Hasbro’s profit and sales slipped in the third quarter as families watched their spending on toys more closely with inflation cutting into budgets. “The third quarter is our most difficult comparison and was further impacted by increasing price sensitivity for the average consumer,” said CEO Chris Cocks. Revenue for the Pawtucket, […]

Posted inNews

The VETS completes its new seat installation project, increases overall capacity

by Ryan Belmore

The VETS welcomes back audiences for its 2022-2023 season with all new seats in the main hall. The theatre’s transformation was completed over the summer after removing and replacing the existing 72-year-old seats. The new seats were installed by Irwin Seating Company and add several enhancements to the patron experience as well as increase the […]