Rhode Island: Compact Size & Easy Access to Markets
04 Dec, 2017
With its location along the Northeast I-95 corridor, Rhode Island provides easy access to major metropolitan areas, airports and shipping terminals that serve international markets. The state’s compact size, diverse demographics and concentrated networks offer a predictable business climate.
Narragansett Bay, to the south of Providence, is the epicenter of Rhode Island’s defense and maritime economy. Electric Boat, Raytheon and major U.S. Navy R&D institutions inhabit seaside locations in this area.
Since the state line begins right after Boston’s I-495 loop, Rhode Island offers suburban locations with access to Boston talent at a lower cost, which is one of the reasons companies like CVS Health and Fidelity have headquarters and major operations in the state.
The Port of Davisville is Rhode Island’s premier public port and gateway to markets throughout Southern New England. Davisville offers four berths and five terminals with over 58 acres of laydown and terminal storage. It recently completed $22.3 million in terminal improvements and purchased a 150 MT mobile harbor crane.
Travel + Leisure readers voted T. F. Green Airport one of the best airports in the country. The airport was also recently voted the third best airport in the United States in the Condé Nast Traveller Readers’ Choice Poll. Currently, an airport improvement program is underway to enhance safety areas and extend the length of the primary runway in order to accommodate larger aircraft and new service.
New Manufacturing Facilities Coming to Quonset
By Steven J. King
Did you know that one out of every seven manufacturing jobs in Rhode Island is at Quonset Business Park? A recent study conducted by Bryant University found that businesses located within the Park account for over 5,700 manufacturing jobs. That’s 14 percent of all of Rhode Island’s manufacturing employment. With over 200 companies, and more than 11,000 individuals working here, it’s clear that Quonset Business Park is Rhode Island’s leading engine of job creation and economic growth. Manufacturing plays an important role in that success.
Quonset has emerged as a key destination for many manufacturing businesses. Quonset’s investments in infrastructure and the support of local, state and federal agencies have allowed us to build a Business Park that meets the demands of modern manufacturers. Not only do we provide access to different modes of transportation, we also offer modernized utilities, retail options, recreation facilities and several hundred acres of protected open space. Additionally, initiatives like our “site-readiness” program, are paying dividends for the businesses that plant their flag at Quonset Business Park. The 5,000 new jobs added (and $2 billion in private investment since 1980) in Quonset since 2008 is due in large part to the strong presence of manufacturing companies at the Park.
Manufacturing has found a home at Quonset and the Quonset Development Corporation (QDC) is positioning the Park to build on that success. Recently the QDC embarked on a new initiative, designed to help current and future manufacturing tenants grow their businesses, when we broke ground on the first building in our new flex industrial campus.
Each flex industrial building will range from 25,000 to 50,000 square feet and will contain office space, restroom facilities, and high bay (24’ clear) manufacturing/assembly/warehouse space. The versatile space was designed to meet the diverse needs of modern manufacturers.
The QDC is excited to be able to provide these affordable, attractive, state-of-the-art facilities to new start-ups and existing manufacturers in our community and across the country. Our goal is to continue to provide our tenants with the modern infrastructure and predictable business climate that they need to succeed. No matter a company’s size, Quonset is ready to help it grow and create more jobs for Rhode Islanders.
The overall plans for the flex-industrial campus include the construction of multiple buildings that will be phased in over several years. To learn more about the project and available space at Quonset, we encourage you to visit www.quonset.com/land/real-estate or call 401-295-0044 extension 218.
We are confident that Quonset’s new flex industrial campus will build on the success of our existing manufacturers and lead to more job creation for Rhode Island.
Steven J. King, PE, is the Managing Director of the Quonset Development Corp., North Kingstown, RI.