Grow Smart Rhode Island has released a report that deserves attention.
The 26-page report focuses on the growth of Quonset Point/Davisville.
It points out that incomplete planning and a potential shortfall of funding could hinder the state’s efforts to capitalize on the potential of the former Navy base as an economic generator – with or without a deep-water container port.
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Scott Wolf, Grow Smart’s executive director, asserts that Quonset Point/Davisville has the potential to be "one of the most significant engines of economic growth for Rhode Island over the next few decades."
But that won’t happen without proper planning – and sufficient dollars. And the Grow Smart report calls into question whether those two critical elements exist.
"Whether or not a container port is sited at Quonset Point/Davisville, the facility can not grow in an orderly, environmentally responsible and sustained manner unless a commitment is made to pursue systematically many of the key planning gaps highlighted in our report," said Wolf.
The Grow Smart report, authored by Dan Varin, former director of Rhode Island’s Office of Statewide Planning and Municipal Affairs, raises questions about road access and infrastructure. It suggests that a reliable funding stream for the relocation of Route 403 and the Interstate 95/Route 4 Interchange project is not in place.
It also questions whether the proposed freight rail system can handle the volume of containers expected to be shipped, should a container port be developed.
What we like about the Grow Smart report is its emphasis on economic development. It speaks of "capitalizing on the opportunity" that is Quonset Point/Davisville.
Grow Smart is simply pointing out that seizing such an opportunity requires proper planning and a realistic outlay of cash. Grow Smart also makes three recommendations which we wholeheartedly endorse:
Establishing as clear state policy the recommendation of the Economic Policy Council that Quonset Point/Davisville be used only for enterprises that can not be feasibly sited elsewhere in Rhode Island. Steering companies to Quonset Point/Davisville that could just as easily stay or locate in urban and town centers doesn’t add to the state’s economic growth…
Establishing mass transit funding mechanisms and routes that will enable all Rhode Islanders, including those of modest means living in our cities, to have access to the new jobs projected for Quonset Point/Davisville.
Providing adequate input for communities near Quonset Point/Davisville in deliberations about its future.
Jim Dodge, chairman of Grow Smart’s Board of Directors, acknowledges that the former Navy base has done well to attract some strong, niche tenants. And we credit the Rhode Island Economic Development Corporation for its efforts to recruit so many of them.
But Dodge is correct when he adds that a "more comprehensive and coordinated vision for Quonset Point/Davisville is required both to capitalize fully on Quonset’s potential contribution to the Rhode Island economy and maintain South County’s quality of life."
The Grow Smart report is a good place to start.
Maintain the carry-back
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An item deep inside the House Finance Committee’s latest state budget proposal – one that would eliminate tax carry-backs – represents a bad move for small business.
A carry-back is a tax benefit that allows companies to apply losses to reduce their tax liability. It is important for company owners to have the ability to offset current losses against profits in the three preceding years, particularly when economic times are tough. Business owners are allowed to carry-back such losses in neighboring Massachusetts, Connecticut and the rest of New England.
As of our deadline, there was talk that the issue was not about to be brought back for discussion – that the House had made up its mind. We hope that isn’t the case. There are times when it makes sense for us to separate ourselves from our neighbors, to do things differently than they are done in Massachusetts and Connecticut.
This isn’t one of them.
