On July 19, Gov. Gina Raimondo and other Rhode Island officials cut the ribbon of the Wexford Innovation Complex. The move marked the official debut of the space on the former I-95 land in Providence.
The 196,000 square-foot building will house anchor tenants such as Brown University, the Cambridge Innovation Center, Wexford Science and Technology and Johnson & Johnson. Venture Café will also have a space in complex, which is situated within the heart of the city's Jewelry District.
Additionally, the Rhode Island Commerce Corporation said the complex "linchpins" other nearby developments, such as South Street Landing and Chestnut Commons.
During her remarks, Raimondo said the Innovation Center serves as a "physical symbol of our progress."
"Over the last four years, we've brought dozens of new businesses to Rhode Island and created thousands of good-paying jobs," she continued. "Today, what was once nothing but dirt becomes an integral part of our capital city's Innovation & Design District."
The 225 Dyer Street building cost $88 million, and received $18.8 million 195 Redevelopment Fund incentives, as well as Rebuild Rhode Island Tax Credits worth $15 million.
The project, which broke ground two years ago, is a space that "has the potential to positively impact our state's economy for generations to come," said Rhode Island Secretary Stefan Pryor. "We look forward to the advancements and innovations that emerge out of this complex and enter our state's economy in the form of patents, licenses, products, businesses, jobs and economic opportunities for Rhode Islanders."
Additionally, Point225 (as Wexford Science & Technology calls the center) speaks to the state's ultimate goals.
"Whether it's business, education, or nonprofit work, there is nothing more important than establishing Rhode Island as a place of opportunity for everyone," said U.S. Congressman David Cicilline.
Check out a roundup of some tweets from the event.
— Andrew Breiter-Wu ?☀️? (@AndrewBreiterWu) July 17, 2019
