Study: Quonset contributing to R.I. employment, boasts $2.9B in economic output

A BRYANT UNIVERSITY study of Quonset Business Park showed that Quonset employs 5,773 workers in manufacturing, or 14 percent of all manufacturing jobs in the state. / COURTESY QUONSET BUSINESS PARK
A BRYANT UNIVERSITY study of Quonset Business Park showed that Quonset employs 5,773 workers in manufacturing, or 14 percent of all manufacturing jobs in the state. / COURTESY QUONSET BUSINESS PARK

(Updated, 3:53 p.m.)
NORTH KINGSTOWN – Findings of a Bryant University study unveiled Monday at Quonset Business Park showed state and federal investments in the site have helped produce a thriving manufacturing industry for Rhode Island.

The study found one in every 23 full-time jobs in Rhode Island are supported by employment at Quonset Business Park, which boasts an economic output of $2.85 billion as well as $1.26 billion in labor income and $113.1 million in state tax revenue.

Currently, the 3,212-acre former naval air station and construction battalion is managed by the Quonset Development Corp., a real estate and property management company, and is home to more than 200 companies which employ close to 11,000 people. In addition, the Port of Davisville, located within the park, is one of the top 10 auto importers in North America.

Quonset Business Park plays a large role in the state’s economy, and exemplifies the success businesses witness in terms of job growth after public money is invested, said Gov. Gina M. Raimondo, who was in attendance on Monday.

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“But the success we have seen at Quonset cannot be sustained unless we have the skilled workforce to help businesses meet their growing demands,” she said, touting the partnership between Real Jobs Rhode Island and General Dynamic Electric Boat.

Real Jobs RI is an initiative begun by Raimondo to match employers and those looking for work. The partnership with Electric Boat will train new hires as production workers and engineers to replace the steady stream of retiring baby boomers.

“If we want to compete in the 21st century economy, we need to invest in the skills that businesses need,” she added.

Results of the Bryant University study show that 14 percent of all manufacturing jobs in Rhode Island, or more than 5,700 workers, are based out of Quonset and that those employed at the park in private sector jobs are paid, on average, 8.3 percent more than the state annual average wage, which is $52,196.

By 2030, the study estimates Quonset’s economic output will be $4.5 billion on top of $2 billion in labor income for 33,700 full-time equivalent jobs and $180.8 million state tax revenue.

The findings show just how integral Quonset is to the state’s economy and how it predicts the industry’s future needs, said Raymond W. Fogarty, director of the John H. Chafee Center for International Business at Bryant University.

“The analysis also shows the importance manufacturing is playing at Quonset and across Rhode Island, supporting the need for more training and education in these fields for future generations to continue the momentum,” he added.

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