Momentum at Quonset continued throughout 2023. Within the Business Park, work began on over 465,000 square feet of new construction, representing over $361 million in private investment.
“With over 13,000 jobs at more than 225 companies, Quonset is the leading engine of job creation and economic development in Rhode Island,” said Governor Dan McKee. “My Administration has invested in and supported the Business Park because the team at Quonset gets results that all Rhode Islanders benefit from.”
“Gov. McKee’s support for Quonset and the Port of Davisville has positioned the Business Park to build on its success and prepare for the future, most notably as a hub for offshore wind in the North Atlantic,” said Steven J. King, P.E., managing director of the Quonset Development Corporation. “The leadership, planning, consistency and ‘Can Do’ approach that has been brought to bear at Quonset over the years at every level of government has created a window into what is possible in Rhode Island.”
Economic Impact Report
In June, Quonset unveiled the 2023 Report on the Economic Impact of Quonset Business Park. The report was prepared by Edinaldo Tebaldi, Ph.D., Professor of Economics at Bryant University.
The report found that each year, Quonset generates:
- $5.9 billion in economic output, representing 8.3 percent of the state’s GDP
- $1.7 billion in household income for Rhode Island families
- $169 million in state and local tax revenue
- An average wage of $69,656 per year, more than 10 percent above the state average
The report projects that by 2030, Quonset will host 17,000 jobs and generate $7.2 billion in economic output, including $2.1 billion in household income for Rhode Island families.
Port of Davisville Master Plan
As the state’s only public port and one of the Top 10 auto importers in North America, the Port of Davisville is projected to import well over 200,000 cars in 2023 and supports over 1,600 jobs. An emerging hub for the offshore wind industry in the North Atlantic, dozens of support vessels made port calls at Davisville this year.
With the support of Governor McKee, Quonset continues to implement its $234 million master plan to upgrade and expand the infrastructure originally built by the U.S. Navy in 1941.
Significant progress has been made on the Pier 1 and Terminal 5 Pier projects at the Port of Davisville, which will support both cargo ships and offshore wind service vessels. Offshore wind service vessels already call at the Port of Davisville as they support construction at South Fork Wind.
Revolution Wind Plugs in at Quonset
Revolution Wind is slated to bring 704-megawatts of clean energy to Rhode Island and Connecticut by 2025 – enough to power 350,000 homes. The project’s undersea cable will make landfall at Quonset, where an underground power cable will direct the energy to both a new and existing Rhode Island Energy substation at the Business Park.
In November, Governor McKee toured the project to announce that Revolution Wind’s onshore underground transmission system at Quonset will create more than 100 local union construction jobs.
Additional Construction and Expansion
Quonset’s Flex Industrial Campus offers a series of move-in-ready, modern industrial spaces that include high-bay manufacturing space, warehouse space and office suites with flexible lease terms. When completed, the campus will include ten buildings and over 300,000 square feet of space. In 2023, Quonset completed construction on Buildings #6-7 and began construction on Buildings #8-9. All completed buildings are fully leased by growing companies.
With funding from the Federal Railroad Administration, Quonset began work to connect the Business Park’s Mill Creek Railyard with the Davisville Main Rail Line, making the switch from the lines more efficient for Quonset tenants and companies moving freight to and from the Park.
In partnership with Gilbane Building Company, Quonset broke ground on a new state-of-the-art headquarters facility for the Rhode Island Air National Guard at the Quonset Point Air National Guard Base. The new building will include a medical facility, a 10,000 square-foot dining hall and the added capability of functioning as a 24-hour command center in emergencies.