More signs of growth at Quonset Business Park - by Steven King

Steven King, Quonset Development Corp.

Quonset Business Park is a key driver of job creation and economic growth in Rhode Island.  It is home to more than 200 companies with nearly 11,000 full-time and part-time jobs.  Its Port of Davisville is one of the top ten auto importers in North America.  More than 4,800 jobs have been created within the park since 2005.  

The continued growth at Quonset has been reflected by several major announcements over the past year.  Many were highlighted in our recent annual report for the year 2015 that was delivered to governor Raimondo, general assembly leadership members, and municipalities surrounding the park. The report can also be viewed by the general public at www.Quonset.com on our transparency and accountability page.

The major highlights noted within the report for 2015, include:

• Job Growth: One year after achieving the 10,000 employee milestone, employment at the park has now reached 10,880.

• New tenants: Greencore completed a new 93,000 s/f facility housing 400 employees. Edesia has nearly completed construction of their 82,000 s/f building which will house 75 new employees.  Other new tenants arriving in 2015 include PetValu, NK Solar, North Kingstown School Department, Electric Boat Pharmacy, Bank of England, and others.

• Tenant expansions: Several tenants have continued to invest in major expansions and improvements at the business park, including Toray Plastics, NORAD, Ocean State Job Lot, Electric Boat, J. Goodison Co., Supfina and Wide World of Indoor Sports.

• New building space: There was more than 183,000 s/f of new structures added by our tenants in 2015.

• Private Investment: New tenant arrivals and current company expansions resulted in $29 million of investment in the Park this past year.

• Infrastructure Projects: The Quonset Development Corp. spearheaded the construction of more than $3.7 million in completed infrastructure projects and another $8.9 million ongoing into 2016. 

• Port activity: Auto imports have continued grow, with 227,021 autos imported by ship and a combined total of 269,171 by ship, rail and truck in 2015.  The port has experienced growth of 547% over the past 20 years and this was its sixth consecutive record breaking year for imports. Additionally, 387 metric tons of project cargo were handled by the mobile harbor crane last year.

• Public Profile:  Telling the story of Quonset’s role as an economic engine of growth garnered significant media attention throughout the year and resulted in a great deal of media coverage about the park.  Some of this coverage can be seen in the report.

These are just a few of the stories about our continued growth coming out of the past year’s report as 2016 gets into full swing.   There are many other important achievements to view in it, as well as a look ahead to 2016.  We consider the opportunities we have for the year ahead, but also the challenges that could arise.      

We invite you to come be a part of this growth and learn how we can help your company succeed.   To learn more about the park visit www.Quonset.com.

With more than 200 companies and nearly 11,000 people working at the park, we are committed to helping more businesses grow, create job, and continue to move Rhode Island forward. 

Steven King, PE, is the managing director of the Quonset Development Corp., North Kingstown.