EB, North Kingstown enter pact boosting payments in lieu of taxes by millions

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GENERAL DYNAMICS ELECTRIC BOAT has reached a new PILOT agreement with North Kingstown worth $78 million over 18 years. / COURTESY QUONSET DEVELOPMENT CORP.
GENERAL DYNAMICS ELECTRIC BOAT has reached a new PILOT agreement with North Kingstown worth $78 million over 18 years. / COURTESY QUONSET DEVELOPMENT CORP.
PROVIDENCE – General Dynamics Electric Boat and North Kingstown have reached an agreement that will result in the town receiving millions more in funds from the company as payment in lieu of taxes over the next 18 years, according to the Quonset Development Corp., which helped broker the deal. The current agreement was projected to…

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