News: Rhode Island

Greencore CEO: Quonset just kept coming out on top

Governor Lincoln Chafee and the Quonset Development Corporation (QDC) announced in March that its board of directors approved a 50-year lease with Greencore USA to become a new tenant at Quonset Business Park. As part of the agreement, the convenience food manufacturer will build a 107,000 s/f facility onsite, bringing close to 400 new employees to the Business Park. The new facility can also be expanded another 40,000 s/f, positioning Greencore to employ more than 600 people at Quonset at full build-out. Greencore USA's CEO, Liam McClennon, recently appeared on WPRI's Executive Suite program to discuss his company's arrival at Quonset more in depth. McClennon told WPRI's Ted Nesi that Greencore completed a very disciplined search when considering where to build its new $40 million facility, including hiring a professional site selection consultant. At the end of the day, however, the decision to come to Quonset was "an easy choice." "Quonset just kept coming out on top - whatever way you looked at it, whatever way you cut and diced the data, Quonset was just the right place," McClennon told Nesi. Why? McClennon noted a variety of factors that played into Greencore's decision. For example, Quonset's Site-Readiness program: "Having a shovel-ready site, and not having to worry too much about getting permits or more designs and committees - it was one of those big parts of the Quonset choice," McClennon said. "[As to] when and how quickly we could start - Quonset has always been a front runner - and nobody else really came close. Everyone else had a very long lead time to be ready to do construction," he added. Location was also a major factor for the company coming to Rhode Island. "As we looked at the varying outbound/inbound logistics and capabilities; where vendors were; where there was a workforce; and that the site was here in Quonset, it was really easy," said McClennon. McClennon discussed other important factors that played into Greencore's decision, including Quonset's incentives for longer term leases and the job creation/payroll incentive. Greencore's experience in choosing to come to Rhode Island should also be noted. McClennon said, "It definitely felt like one of the more easy places to work, and we work in several states in the U.S., so we have some good context for Rhode Island in and amongst its kind of peer group of other states looking to encourage inward investment." Perhaps most importantly, Greencore's CEO had this to say about the status of the new facility at Quonset, "It's already started and it's a pleasure to see that what the guys [the QDC] told us would happen - has happened and we're moving at pace." We appreciate Greencore's decision to join the more than 175 companies and 9,500 workers at Quonset Business Park, and we look forward to showing them and others what a great place Quonset is to grow a business. Steven King, PE, is the managing director of the Quonset Development Corp., North Kingstown, R.I.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary