NEWPORT – R.I. Commerce Corp. alongside local officials on Monday held a ribbon cutting for its new satellite office at Innovate Newport.
The quasi-public agency signed a one-year lease agreement with Innovate Newport for $700 per month, with an option to renew, in line with all new Innovate Newport tenants, said Erin Donovan-Boyle, CEO and president of the Greater Newport Chamber of Commerce.
Donovan-Boyle said Commerce Corp. will have at least one dedicated staffer on site daily in the second floor office.
Commerce Corp. CEO and president Jim Bennett said in a statement Monday that the effort is aimed at supporting the needs of businesses throughout the state.
“I could not think of a better location than Innovate Newport,” he said.
Since opening in 2019, Innovate Newport has become a central hub for technical assistance, entrepreneurship and business support services in the area. The 33,000-square-foot former Sheffield Elementary School building has dedicated office, co-working, and event space.
The region is increasingly becoming a destination for innovation and investment, said Donovan-Boyle, who joined the Commerce Corp. board of directors in 2024, adding that the satellite demonstrates “ a strong commitment to supporting the businesses, entrepreneurs, and innovators that drive our regional economy.”
“By locating here, R.I. Commerce is embedding itself directly into this growing ecosystem …where innovation, entrepreneurship, defense technology, blue economy initiatives, and small business development are all intersecting in meaningful ways,” she said. “This is an important moment not only for Newport County, but for the entire Aquidneck Island business community.”
Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com