Downtown Providence, R.I. The state's economy saw an improvement in the third quarter of 2021. Mary Serreze

RI - Federal grant offers 'blue economy' opportunity for URI, Ocean State

With a billion dollars at stake, Rhode Island residents are one step closer to what could be a revolutionary, new "blue economy" thanks to the “Build Back Better Regional Challenge, a U.S. Economic Development Administration program designed to develop and scale regional industry along with training a new workforce.

A team from Rhode Island, including the University of Rhode Island Research Foundation and the state commerce department, were recently selected as one of 60 finalists and awarded $500,000 to further develop their proposed projects.

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