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News: Front Section
Posted: March 3, 2016
Quonset Business Park: Our Connections Propel Your Success - by Steven King
Steven King, Quonset Development Corp.Quonset Business Park is increasingly seen as a key driver of job creation and economic growth in Rhode Island. It is now home to nearly 11,000 full-time and part-time jobs at more than 200 companies. Its Port of Davisville is one of the Top Ten auto-importers in North America. And since 2005, more than 4,800 jobs have been created within the Park. So why are so many businesses and people wanting to call Quonset home?
• World Class Infrastructure: Since 2005 we have invested more than $90 million to upgrade the infrastructure of the Park. That includes everything from the roads, rail, piers, and water system, to tearing down over 2.4 million s/f of derelict and unusable building space.
• 90 Day Development: The QDC has completed all the engineering that a developer would have to conduct as part of “due diligence” in order to get a project underway. Further, the QDC has secured all the baseline permits from various state agencies that a new business would be required to secure. In essence, shovels can be in the ground within 90 days of a new tenant signing their lease.
• The Quonset Zone: A single zoning district assigned to the park as part of an agreement with the host community of North Kingstown for uniform development regulations. The one-stop process means that all development and re-development projects in the park can proceed more efficiently and in a timely manner.
• Optimal Sized Parcels: Today there are 38 parcels pre-engineered and pre-permitted across 274 acres. Ranging in size from 1 to 43 acres, we have the optimal space for any size business.
• Lease Incentive Plans: There are multiple lease incentives offered - the longer a tenant agrees to keep their business at the Park, the larger the discount available to them. Another incentive provides a discount to land lease tenants that is equal to 0.5% of their annual wages.
These are just some of the top reasons we believe many companies might need to come to Quonset. There are still many, many more, including our beaches, golf course, on-site retail, and other amenities.
To learn more, check out www.Quonset.com.
Steven King, PE, is the managing director of the Quonset Development Corp., North Kingstown, R.I.
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