Another Piece of the Funding Puzzle
at the Port of Davisville
Funding to prepare the Port of Davisville to be a hub for wind energy jobs while maintaining its status as a global leader for auto imports continues to fall into place with the announcement of a $11.1 million federal grant. Matched with $6 million from Quonset, the funds will support the Pier 1 rehabilitation project and allow roll-on, roll-off cargo vessels to dock at the pier’s south berth for the first time. The grant was secured with the assistance of U.S. Sen. Jack Reed and Rhode Island’s Congressional delegation through the U.S. Department of Transportation’s Maritime Administration’s (MARAD) Port Infrastructure Development Program.

A second, crucial component of preparing for the arrival of wind energy at Davisville is a $20 million bond measure proposed in the FY 2021 budget now pending before the General Assembly. In addition to paving the way to make Davisville a wind energy port, the bond will help preserve the jobs and economic output that make the Port essential to Rhode Island’s maritime economy. The Port of Davisville generates $374 million in business output annually, supports nearly 1,700 jobs, creates nearly $100 million in income for Rhode Island families and generates $28 million in state and local tax revenue.

The bond proposal includes the construction of a new Pier at Terminal 5, dredging, and the continued rehabilitation of Pier 1, built in 1941 on 9,100 wooden pilings. 

As the leading engine of economic development and job creation in Rhode Island, Quonset has a long history of working with our partners in state, federal and local government. Voters overwhelmingly approved a $50 million bond investment to rehabilitate Davisville’s Pier 2 in 2016. The project is expected to be completed in 2022 both on time and $5 million under budget. 

Providence Business News
Quonset’s Successful Site Readiness
Program Ready To Go Statewide
Quonset’s site readiness has been essential to the Business Park’s growth and success in recent years. The program, which offers pre-permitted, pre-engineered sites, is made possible by QDC’s collaboration with various state agencies including the Rhode Island Department of Environmental Management (RIDEM) and the Coastal Resources Management Council (CRMC). 

Providing companies with an expedited permitting process to simplify site preparedness, each available parcel comes with a prepared due diligence package, including an environmental Phase 1 review, utility availability and capacity analysis, geotechnical soils review, concept site plans and permits, and a land title review. New companies can break ground on these parcels within 90 days of gaining site control.

Today, there are 16 remaining site readiness parcels at Quonset. These include one 42 acre site and 10 parcels over 10 acres. A proposed bond question included in the FY21 state budget would invest $21.5 million in this successful concept across Rhode Island.  

“The success of the Quonset’s site readiness program is something that can be implemented statewide,” said QDC Managing Director Steven King. “Based on our experience at Quonset, it’s likely that this relatively small investment would get big returns for Rhode Island in terms of business expansion and jobs for Rhode Island families.”

New England Real Estate Journal
Quonset Business Park: A Manufacturing
Success Story in Rhode Island 
Despite the economic uncertainty of the COVID-19 pandemic, Quonset’s manufacturing sector has continued to provide stable jobs for thousands of Rhode Islanders, and the sector is primed to continue growing.

The Rhode Island Manufacturers Association (RIMA) hosted a Manufacturing Week Virtual Kick Off conference on October 6th, which highlighted the success of Quonset’s manufacturers.

“RIMA is pleased to see the growth and major contribution that Quonset has made to the manufacturing sector,” said RIMA executive director Dave Chenevert (above). “We have several RIMA members at Quonset such as Hexagon Manufacturing Intelligence, R&D Technologies and Supfina Machine Company. We recognize the positive impact that Quonset Business Park has on the success and growth of the sector. Quonset Business Park is a manufacturing success story in Rhode Island and companies across the state are fortunate to tap into the leadership and expertise there.”

The strength of Quonset’s manufacturing base is reflected in these statistics:

• Quonset businesses employ nearly 7,000 Rhode Islanders in manufacturing jobs.
• Manufacturing jobs account for 59% of the employment at the park.
• 17% of all manufacturing jobs in Rhode Island are at Quonset.
• The average salary for manufacturing workers at Quonset is 11% higher than the statewide average. 

Read more from NEREJ about the promising signs for continued manufacturing industry growth.

New England Real Estate Journal

*Picture Credit Michael Salerno/PBN
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