We urge the Rhode Island Economic Development Corporation to follow the lead of the Quonset/Davisville Management Corporation, which recommended last week that the state sell 66 acres of land at Quonset Point to Ocean State Job Lot. Once a deal is completed, the Rhode Island-based company is expected to embark on a $35 million expansion.
The EDC is expected to meet and discuss the matter next Monday, Feb. 24.
Job Lot is looking to build a new 500,000-square-foot headquarters and warehouse facility near its existing headquarters and distribution center in the Quonset/Davisville Port & Commerce Park.
Company officials are talking about a major expansion that would include doubling its employment force to about 5,000 workers.
Job Lot opened its doors in Quonset Point/Davisville 18 years ago and since that time has been a retail marvel. Despite a stagnant economy in recent years, the company has continued to grow and currently has plans to add seven new stores to its existing 64 by the end of this year.
Job Lot needs the additional land here to make its bold expansion plans a reality. Its owners have said that if they can’t obtain the land within Quonset Point/Davisville, they will have to look elsewhere – quite possibly in a neighboring state.
There are important details for the state to consider. An expanded Job Lot will mean more truck traffic in and out of the Commerce Park. And the 66 acres is a big commitment to one company.
But we believe the state will be well served by reaching an agreement with Job Lot, as long as the company is willing to negotiate and pay fair value for the land.
Michael McMahon, executive counselor to the governor for economic growth and community development and executive director of the Rhode Island Economic Development Corporation, told Providence Business News last week that the state was confident a deal could be reached with Job Lot. He does expect, however, a tough negotiating process.
“We absolutely want to get that deal done,” said McMahon. “But we’re not going to give the land away. That land belongs to all the people…Like most negotiations, it comes down to a question of price.”
We hope the two sides do in fact find a price that meets with their collective satisfaction.
Ocean State Job Lot is a Rhode Island success story. It would be a shame to
see the company expand its operations anywhere but in the Ocean State.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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