New sailing race in state will cost $500,000

(Boston.com) Rhode Island needs to spend about $500,000 to host the new America's Cup World Series race this September in Newport, a state official said. Keith Stokes, director of the Rhode Island Economic Development Corporation, said Thursday that the money would pay for renovations at Fort Adams State Park to accommodate boats and spectators. Stokes said state officials are working to finalize an agreement to bring the sailing event to Rhode Island. READ MORE