While Rhode Island’s economic prospects are “solid for the long-term,” it still suffers from a sub-par public education system and high taxes, and will be missing an “immense opportunity” if it fails to develop a container port at Quonset Point/Davisville, according to a noted Bryant College economics professor. And while officials suggest that the state’s future growth will come from high-technology, Dr. William B. Sweeney suggests that “for all practical purposes” Rhode Island has been “by-passed by the advanced scientific revolution,” with only 15,000 jobs created in the high-tech sector, out of 495,000 employees statewide.
Even so, Sweeney, whose economic forecasts are often more pessimistic than other economists, is in step with virtually every forecaster who predicts continued economic growth. Unlike his colleagues, Sweeney apparently is not predicting a slowdown in growth, but instead suggests in his year-end economic forecast, that “economic prospects for the Ocean State are solid for the long-term” and that the six-state New England region will “achieve above-average growth.”
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Sweeney’s comments on Quonset Point come at a time when it appears any plan for a Quonset port has achieved back burner status, and when North Kingstown legislators are vocal in their opposition to a suggestion to move the Port of Providence to Quonset. Congressman Robert Weygand, a Democratic candidate for the U.S. Senate, has joined those in opposition to development of a port at Quonset Point.
But Sweeney sees the port as critical.
”It would be a real economic black eye for the state of Rhode Island if it failed to fully develop Quonset Point as an industrial site,” Sweeney said. “A major container port may present the highest and best use of this hub in terms of its geographical location near the Atlantic Ocean. Despite serious environmental problems related to its potential industrial development, the benefits of a container port are immense (e.g. estimated 3,000 – 4,000 new jobs).”
Sweeney says that Quonset is most attractive for industrial development because “it is likely the only hub on the East Coast where four modes of transportation come together (rail, air, highway, and ocean shipping). The most realistic plan for Quonset Point expansion probably lies in the development of a moderate sized container port. From the standpoint of commercial feasibility, the port needs to handle 500,000 lifts (units) per year, and therefore will require a 400 to 500 acre land mass to support its capacity threshold.”
Sweeney noted that progress on both the third rail freight line project and a connector road from Quonset to Route 4 is beneficial to development of the area.
And he suggests that environmentalists fears could be allayed if a 500-acre-reserve is set aside as open space on the wet and north border of the site, serving as an ecological buffer zone around the periphery of Quonset/Davisville. He said this would constrain future development, and although it would “not prevent marine life injury due to filling-in and dredging (for the port), it would carry the advantage of offsetting the acreage of the Bay Floor lost or damaged by port development on an one to one basis.”
”The reputation of Rhode Island as a good home for doing business would suffer a severe setback if it takes another quarter of a century to realize the full economic potential of Quonset Point,” Sweeney said.
Sweeney has this to say about other issues:
Business climate. Rhode Island has resolved some of its most serious problems, boasting several “sought after industrial development assets” – moderate business costs (low commercial/industrial rental charges for the Northeast and low wage levels by national standards); availability of venture capital through the Samuel Slater Technology Fund and three other home growth companies; important research centers at Lifespan, Brown University and the University of Rhode Island; and pro-business government with the highest investment tax credit and highest research and development tax credit in the nation, plus liberal tax credits for worker training.
The state still suffers because of high business taxes and weaknesses in its public school system. He suggests the state should seek ways to reduce the tax burden for small businesses, such as cutting Rhode Island’s corporate profits tax. In terms of education he points to low test scores and a high drop-out rate and suggests the state simply “redesign its public school system.” He wants state officials, among other things, to promote smaller class size, greater teacher accountability, performance based standards for administrators, and major expansion of after school programs.
To achieve growth in high technology the state needs to improve its public school systems to produce more skilled workers. Growing this industry is essential for continued economic well being in the state, he said. “High-tech industry will become the basic foundation for production activity in the 21st century,” Sweeney said. “Rhode Island can ill afford to allow the scientific revolution to make a detour around its borders.”
