PORTSMOUTH – Polaris Manufacturing Extension Partnership will receive $2.3 million in federal funds for construction of an Advanced Materials and Technology Center here for 401 Tech Bridge, the state’s congressional delegation announced on Friday.
The facility will support the growth of textiles, composite and undersea technology in Rhode Island.
401 Tech Bridge is a partnership launched in 2019. between Polaris MEP, the University of Rhode Island, the Composites Alliance of Rhode Island, the Rhode Island Textiles Innovation Network and the Office of Naval Research.
The federal funding will be matched with $790,000 in local funds. It is expected to create 400 jobs.
The facility will span 17,000 square feet and is expected to open in the first half of 2021. It will include a lab for research and development, as well as coworking space for the center’s staff, Polaris MEP and tenant partners.
“This is another positive step toward developing a strong, sustainable technological ecosystem here in Rhode Island. This federal funding will help 401 Tech Bridge and its partners build on their success and attract more opportunities for entrepreneurship, investment and innovation,” said Democratic Sen. Jack Reed.
The grant comes from the U.S. Economic Development Administration’s Public Works Program.
Want to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.