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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.
Boston-based Beacon Financial Corp., the merged entity following the acquisition of Brookline Bancorp (former parent of Bank Rhode Island), reported first-quarter profit of $46.2 million on April 29, up 142% from $19.1 million a year earlier. The bank continued integrating operations following the merger. The source text provides limited additional detail on revenue, loan performance, or integration costs.
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.
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.
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 The Biden administration initially earmarked the grant in 2024 before it was temporarily withdrawn.
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.
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.
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.
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.
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.
