The Quonset Business Park has been the leading engine of Rhode Island’s economic growth and job creation for years and continues to grow and adapt. But Quonset’s momentum is not based on just one entity, elected official or private business; rather it has always been a team effort. The former U.S. Navy base is now home to more than 200 companies employing nearly 12,000 people. The recent release of the Bryant University Economic Impact Report, conducted by professor Edi Tebaldi, highlights the park’s central role in Rhode Island’s economic prosperity.
The statistics in this report are remarkable. Annually, the park generates over $4 billion in economic output, or 7% of Rhode Island’s gross domestic product, $1.28 billion in household income for families and $128.8 million in tax revenue. And we continue to grow.
The study projects that, by 2030, Quonset will support 32,546 direct and indirect jobs, create $1.87 billion in annual income for Rhode Island households, and produce $6.2 billion in gross domestic product.
The study also shows Quonset expanding as a manufacturing hub with 6,800 manufacturing jobs. That equates to 17% of total manufacturing employment in Rhode Island. In addition, the average wage for all jobs at Quonset is 19% higher ($59,235) than the average wage statewide ($49,795).
The teamwork with partners in government, businesses and the community has led to over $1 billion in private investment and 5,300 new jobs at the park since 2005.
Teamwork ... has led to over $1 billion in private investment and 5,300 new jobs.
Gov. Gina M. Raimondo has been a strong ally of Quonset’s since taking office in 2015. Her business-friendly policies and the leadership of Quonset’s board chair, R.I. Commerce Secretary Stefan Pryor, have played a key role in the recent addition of companies such as Finlay Extracts & Ingredients USA Inc., Infinity Meat Solutions and the expansion of Quonset’s largest company, Electric Boat. Raimondo’s commitment to investing in job training that prepares the next generation of highly skilled manufacturing workers is preparing the workforce of the future.
The General Assembly has been instrumental in supporting Quonset’s major infrastructure funding initiatives, including the $90 million renovation of the Port of Davisville’s crucial Pier 2. The legislature’s support of the governor’s bond referendum in 2016 was key to its passage, positioning Davisville for future growth. This project is essential to Quonset’s success. Davisville imported 241,851 automobiles in 2018, a record, and is on track to surpass it in 2019. The renovations at Pier 2 will also enable the port to become a hub for the offshore wind industry.
Our federal delegation – Sens. Jack Reed and Sheldon Whitehouse, and Reps. James R. Langevin and David N. Cicilline – are champions of Quonset. The entire delegation has worked hard to secure infrastructure funding for the park, including $160 million in freight rail investment and $159 million in road and highway improvements. Without federal funding for the upgrades, Quonset would not have the world-class infrastructure that makes it the attractive location for businesses.
Our neighbors in North Kingstown are key to our success as well, engaging with and adapting to the park as it has evolved. Numerous town residents work here while others have served on our board of directors with consistent leadership. Quonset is committed to being a good neighbor, providing amenities for the community, including four public beaches, a 2.4-mile bike path, a 22-acre athletic field complex and a public golf course. At the same time, Quonset produces millions in much-needed property tax revenue each year.
Lastly, the leadership at the Quonset Development Corp. has been instrumental over the last 15 years. The dedicated team at the QDC is always ready for new challenges, working to attract new business, help current businesses expand and create jobs for Rhode Islanders.
The growth of Quonset Business Park has been a generational endeavor. The impact report reflects the many Rhode Islanders working together to improve our state’s future. Quonset’s success is a window into what is possible in Rhode Island.
Steven King is the managing director of the Quonset Development Corp., which manages the Quonset Business Park in North Kingstown.
