A Portsmouth-based technology innovation nonprofit is poised to receive $1 million in tax credits and an extra $500,000 in funding to create a research and development lab and workspace for the textiles, composites and undersea defense industries.
401 Tech Bridge is an economic development nonprofit launched last year by the University of Rhode Island Research Foundation, Polaris Manufacturing Extension Partnership, the Composites Alliance of Rhode Island, the Rhode Island Textiles Innovation Network and the Office of Naval Research. In August, Polaris MEP received a $2.3 million federal grant to fund the creation of an Advanced Materials and Technology Center in Portsmouth, which will house a laboratory for the groups to research and develop technology.
