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Rhode Island's regulator approved a 2.5% average reduction in workers' compensation loss costs, effective August 1, 2026. The decrease marks the 11th consecutive annual reduction, totaling a 75.8% net decrease since 2015. More than 200 insurers write workers' comp coverage in the state, and officials credit workplace safety improvements by RI employers.
Senesco Marine and Havoc announced a partnership to manufacture state-of-the-art autonomous uncrewed surface vehicles in North Kingstown. The collaboration between the two Rhode Island-based companies will create new jobs over time, including positions for engineers, software developers, and shipbuilders. Sen. Jack Reed celebrated the partnership as a boost to Rhode Island shipbuilding.
OceanPoint Financial Partners, the mutual holding company for BankNewport, reported record total assets at its annual meeting in Newport. The announcement was made as the Newport-based bank's executive team gathered for the Annual Meeting of the Corporators. BankNewport is one of Rhode Island's community banks.
The city of Providence filed an enforcement action against Audubon Capital Partners LLC, alleging the firm used banned algorithmic software to coordinate rent pricing. City spokesperson Joshua Estrella said the complaint is the first enforcement action under the law adopted last year to ban algorithmic rent pricing in the city.
Warwick Mall announced two new local businesses have opened: Rocky Point Chowder House joined the Carousel Food Court, offering coastal favorites inspired by the legendary Rocky Point amusement park, and The Chocolate Boutique, a family-owned candy shop, opened next to Kay Jewelers. Mall officials said the additions reflect Rhode Island tastes and traditions.
Ocean State Media Group is now officially broadcasting on 103.7 FM following approval from the Federal Communications Commission. The state's public media entity acquired 103.7 WEVI-FM from Audacy Inc. in January; the transfer of the radio frequency and transmitter was announced on May 1. Financial terms were not disclosed.
Providence leaders celebrated the opening of a new Providence Business Center on the first floor of 444 Westminster Street. The center is designed to be a one-stop shop for small-business needs. Mayor Brett Smiley's office said the dedicated space will streamline services available to small businesses in the city.
A bipartisan group of Rhode Island lawmakers and business leaders held a press conference opposing Gov. McKee's proposed 3% surtax on income over $1 million and other tax policies they say undermine economic growth. The coalition argues these tax increases could drive high earners and businesses out of Rhode Island, harming the state's competitiveness.
Rhode Island finalized a settlement with Deloitte Consulting LLP related to the December 2024 ransomware attack that shut down the RIBridges benefits system. Deloitte will pay the state a total of $12 million ($5 million paid in February 2025, plus $7 million now) and has provided $6 million in system enhancements and operational support. The attack exposed private information of more than 650,000 people.
The Valley Breeze newspaper announced it acquired the northern Rhode Island news site NRI Now and will bring aboard its founder/publisher Sandy Hall. Financial terms were not disclosed. Hall created NRI Now in 2018 to fill a local news gap and will now focus solely on reporting rather than business operations. The NRI Now website will cease updating.
Proclamation Ale Company, one of Rhode Island's most iconic craft breweries, served its final drinks on May 3, 2026. The Warwick brewery, founded by the late Dave Witham and later run by his wife Lori, was credited with having a major influence on Rhode Island's craft beer industry and local community.
