Vol. CXXXII · No. CLXFRIDAY, JULY 10, 2026Ocean State Edition

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160 articles · page 11 of 14
CommercePaywall

Brown University receives $12M gift from Orlando Bravo for economics research

Brown University announced a $12 million gift from Puerto Rican billionaire businessman Orlando Bravo to support economics research. The donation created two new endowed economics faculty positions named for Bravo and is among the largest gifts ever to support economic policy research at Brown. Bravo is a 1992 Brown graduate, trustee, and co-founder of software-focused private equity firm Thoma Bravo, which manages over $183 billion in assets.

bostonglobe.comMAY 4, 2026
CommerceFree press

Brightstar Lottery extends lease, keeps HQ in Providence through 2036

Brightstar Lottery (formerly IGT) signed a nine-year lease extension with FM to remain at 10 Memorial Boulevard in downtown Providence, with an option for an additional seven years. The agreement ensures the company's global headquarters will stay in Rhode Island until at least July 2036, following state leadership efforts to retain the major employer.

wpri.com
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MAY 3, 2026
CommercePaywall

Quonset secures $11.25M federal grant for port infrastructure improvements

Rhode Island has re-secured a previously revoked $11.25 million federal grant for infrastructure improvements at Quonset Business Park's Port of Davisville. The Port Infrastructure Development Program funding will support port operations, capacity, and safety. The Biden administration initially earmarked the grant in 2024 before it was temporarily withdrawn.

pbn.comMAY 2, 2026
CommerceFree press

Joe Paolino floats possibility of Costco at Providence Place Mall

Developer Joe Paolino, newly named co-owner of Providence Place Mall, raised the prospect of bringing a Costco wholesale store to the mall, though he acknowledged it as a "long shot" and said no serious conversations with Costco have occurred. Former RI Gov. Gina Raimondo and gubernatorial candidate Helena Foulkes both sit on Costco's board.

turnto10.comMAY 2, 2026
CommercePaywall

Textron reports 6% Q1 profit increase, plans to separate industrial segment

Providence-based Textron Inc. reported first-quarter profit of $220 million, a 6% increase from $207 million in the prior year, with earnings per diluted share rising to $1.25 from $1.13. The company also announced plans to separate its industrial segment—composed of Kautex and Textron Specialized Vehicles—from its core aerospace and defense businesses through either a sale or tax-free spin-off, positioning itself as a pure-play aerospace and defense company.

pbn.comMAY 1, 2026
CommerceFree press

Paolino Properties, Pyramid win $133M Providence Place Mall bid from receiver

Court-appointed receiver Mark Russo recommended a partnership including Paolino Properties, Pyramid Management Group, and DW Partners to acquire Providence Place Mall for approximately $133 million. The group will have exclusive rights to negotiate a final purchase agreement, pending Superior Court Judge approval. The deal marks a significant turning point for the mall, which has been under receivership after previous owner Brookfield defaulted on over $250 million in debt.

golocalprov.comMAY 1, 2026
CommercePaywall

RIPEC report: Rhode Island economy losing ground over past decade

The Rhode Island Public Expenditure Council released analysis showing Rhode Island's economic growth significantly lagged the nation from 2014 to 2024. RIPEC concluded the state has lost ground due to over-reliance on low-productivity industry sectors and government spending. The scorecard utilized six federal economic data measures to assess the state's economic performance and competitiveness.

pbn.comMAY 1, 2026
CommerceFree press

Brightstar Lottery signs 9-year lease extension at downtown Providence headquarters

Brightstar Lottery, formerly IGT, has signed a long-term lease extension to remain at 10 Memorial Boulevard in downtown Providence through at least July 2036, with an option for seven additional years. The agreement keeps the lottery operator's global headquarters in the state's capital and ensures continued presence of a major RI employer in the downtown core.

turnto10.comMAY 1, 2026
CommerceFree press

Textron Systems secures Defense Innovation Unit contract for autonomous vessels

Providence-based Textron Systems Corp. was awarded a Defense Innovation Unit contract to produce and deliver multiple uncrewed surface vessels for U.S. Navy Fleet Experimentation exercises in Key West, Florida. The contract includes supplying Tsunami interceptor USVs and Aerosonde 4.7 VTOL unmanned aerial systems, followed by three months of joint operations with U.S. Southern Command and Fourth Fleet.

workboat.comMAY 1, 2026
CommerceGovernanceFree press

RI finalizes $12M Deloitte settlement over 2024 RIBridges data breach

Rhode Island finalized a settlement with Deloitte requiring the firm to pay the state $7 million plus an additional $5 million for unexpected 2025 expenses following the December 2024 RIBridges cybersecurity incident. Deloitte also provided $6 million worth of system enhancements and operational support services. The agreement covers Deloitte's role as the vendor managing the social benefits system that was shut down due to a cyberattack.

turnto10.comMAY 1, 2026
CommerceFree press

Hotel Viking reopens in Newport after multimillion-dollar 100th anniversary renovations

Hotel Viking announced it will reopen on May 1 after multimillion-dollar renovations completed in time for its 100th anniversary. The Newport landmark returns with a refreshed redesign and new culinary program led by chef Robert Andreozzi. Over 100 employees were laid off when the hotel closed for renovations last September; hotel officials had encouraged workers to reapply upon reopening.

turnto10.comMAY 1, 2026
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