US grant to help Newport turn vacant school into technology business incubator for start-ups

Associated Press

Newport has received nearly $1.7 million federal grant to convert a vacant school into a technology business incubator to promote start-up companies.

The city will match funding from the grant for a total of about $3.3 million.

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The Newport Daily News reports (http://bit.ly/IX5CGL ) that the center, called Newport TechWorks, will offer short-term leases and resources to entrepreneurs and small businesses serving the region's defense firms and technology firms in the marine, climate change, environmental and digital industries.

City Manager Joseph J. Nicholson Jr. and Mayor Harry Winthrop did not have a timetable for the conversion of the school to a business incubator.

Sen. Jack Reed, D-R.I., said the incubator will link new businesses with ideas and technology from Naval Station Newport, the Naval Undersea Warfare Center and University of Rhode Island.

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Information from: The Newport Daily News.