The Quonset Development Corporation released the latest Quonset Economic Impact Study conducted by Bryant University recently showing that Quonset continues to be the leading engine of job creation and economic growth in Rhode Island. The report found that Quonset generates $5.9 billion in economic output annually, or 8.3% of the state’s Gross Domestic Product, and $1.72 billion in annual household income for Rhode Island families. Activity at the Business Park also results $169.1 million in annual tax revenues for state and local government.
The study’s findings were unveiled at the kick-off for “Quonset Day” at the State House. State leaders also had the opportunity to meet with 18 different Quonset businesses to learn about the innovative products made each day at the Business Park.
“Quonset is a leading example of Rhode Island’s economic momentum. The Business Park’s growth over the past two decades can be attributed to public infrastructure investments that have attracted significant private investments. I commend the leadership team at Quonset on the results they have continued to deliver,” said Governor Daniel J. McKee.
To read the full Bryant University report, click here.
