Based on just one event, the $4.5 million creation of a new 240-foot pier at Fort Adams State Park in Newport would seem to be a smashing success. But thankfully for the people of Rhode Island, this is one public expenditure that just keeps on giving.
The pier was a star for the 2015 stop of the Volvo Ocean Race in Newport, the only North American port of call for the event. That visit generated a nearly $48 million economic impact for the state, including bringing nearly 150,000 spectators to Newport, on land and by sea.
The pier, as well as all the other Newport amenities, played a role in the race returning to Newport in May 2018.
But the success of Newport goes beyond the Volvo. Late last year Sail Newport, the organization that coordinates the city's forays into the world of elite sailing events, announced that the World Match Racing Tour would come to Newport in May and June.
And of course, the weeklong event will provide a significant boost to the city (and state) economy, proving again that with a new pier, Newport has no peers. •