FAQ
FAQ
What are the key points of Question 7, the Industrial Facilities Infrastructure bond question?
Question 7 asks the voters to approve a $60 million investment for two targeted, high-priority efforts that will help create jobs in Rhode Island:
A $20 million investment in the Port of Davisville at Quonset Business Park. This will be a crucial piece of the overall financing to modernize the facilities and allow for continued growth at Davisville, Rhode Island’s only public port.
A $40 million investment in statewide Industrial Site Development. This investment would put Quonset’s successful “Site Readiness” initiative to work throughout Rhode Island. Administered by the Quonset Development Corporation, these funds would help prepare business-ready parcels for manufacturing and other job-creating activities statewide.
What will the investment at the Port of Davisville do?
This $20 million investment will contribute to the financing of the Port Master Plan. The Plan includes rehabilitation of Pier One (built in 1941), construction of a new Pier at Terminal 5 and dredging. This expansion will allow Davisville to service offshore wind project cargo and create new jobs, while maintaining existing businesses, including one of North America’s largest, most successful auto importers.
How does the Port of Davisville currently benefit Rhode Island’s economy?
The Port of Davisville is a major driver of economic activity in Rhode Island. The Port supports nearly 1,700 jobs, $98.9 million in household earnings for R.I. families and $374.3 million in business output annually. The Port also generates $45.5 million in total state tax revenue as well as $10.5 million in local taxes.
Overall, Quonset Business Park is home to more than 12,000 jobs at over 200 companies, including one in every six manufacturing jobs in Rhode Island. Those jobs generate $1.3 billion in annual household income for Rhode Island families. Quonset also supports $4.3 billion in economic output annually, or 7% of Rhode Island’s GDP and $128.8 million in annual tax revenues in Rhode Island.
Why is the port bond important?
Voting “Yes” on Question 7 will position the Port of Davisville to benefit from future jobs supporting the offshore wind industry, while also protecting existing port businesses that support nearly 1,700 jobs.
The Port of Davisville is one of the Top 10 auto importers in North America, breaking import records in 11 of the past 13 years. With current Port infrastructure nearing capacity, this bond will position the Port to continue as a leader in the auto import business, while also creating new jobs in Rhode Island from the growth of the offshore wind industry.
The Port of Davisville is one of the only ports in the country with experience in the construction of offshore wind farms. In 2016, wind turbine components arrived in Rhode Island via the Port of Davisville for the Block Island Wind Farm, including steel jackets to anchor the windmills and over 28 miles of undersea cable. Quonset also served as the principal port for the project’s heavy installation vessels over a two-year span while Quonset-based companies participated in every aspect of the project’s construction. Davisville worked seamlessly with its partners at ProvPort to support the successful construction of the first offshore wind farm in North America.
Davisville has also been the port of entry for the component parts of nearly every land based wind turbine in Rhode Island.
What are the details of the port build-out proposal? (Include Picture of Master Plan?)
This $20 million investment will finance a portion of the Port of Davisville’s Master Plan, which includes:
● The rehabilitation of 950 feet of Pier 1, which was built in 1941;
● The construction of a new Pier at Terminal 5 to handle the growing auto import business;
● The ongoing rehabilitation of Pier 2 to prepare for offshore wind, and;
● Dredging.
What future role is the Port of Davisville expected to play in the offshore wind industry?
The Port of Davisville’s central, convenient location positions Rhode Island to benefit from the economic activity related to offshore wind projects from Cape Cod to New Jersey. There are currently 2,510 MW in offshore wind projects proposed in the region (the Block Island wind farm is 30MW). These projects will require support from all available port facilities between Woods Hole, MA and Bridgeport, CT – including Davisville. This $20 million investment in Davisville will keep wind energy jobs in R.I., instead of going to other states.
What will the investment in Industrial Site Development do?
This $40 million investment would mirror Quonset’s successful “Site Readiness” initiative throughout Rhode Island. Site Readiness was a crucial element of Quonset’s expansion to a business park with more than 12,000 jobs at over 200 companies. Administered by the Quonset Development Corporation, funds would support the statewide preparation of business-ready parcels for manufacturing and other job-creating activities. These funds would support permitting, engineering, site preparation and construction and more.
How has Site Readiness benefited Quonset?
The “Site Readiness” program has enabled Quonset Business Park to grow to employ over 12,000 people at more than 200 companies. Since 2005, nearly 7,000 new jobs have been created and private companies have invested $1.2 billion throughout the Business Park.
Why is the Site Development bond important?
Quonset Business Park has only 94.6 acres of available land left. Voting “Yes” on Question 7 will position Rhode Island to prepare additional sites, like those at Quonset, to generate economic development and job creation statewide.
How has Site Readiness worked at Quonset?
Quonset’s “Site Readiness” program provides potential tenant companies with an expedited permitting process to simplify site preparedness. The program, which offers pre-permitted, pre-engineered sites, is made possible by Quonset’s collaboration with state agencies including the Rhode Island Department of Environmental Management (RIDEM) and the Coastal Resources Management Council (CRMC).
QDC has worked closely with RIDEM and CRMC to pre-permit available sites to meet all applicable environmental regulations. New tenants can break ground on these parcels within 90 days of gaining site control.
Each available parcel comes with a prepared due diligence package, including an environmental Phase 1 review, utility availability and capacity analysis, geotechnical soils review, concept site plans and permits, and a land title review. Available sites are already prepped for a variety of uses and ready for immediate development.
What is Industrial Site Development?
The Industrial Site Development initiative will invest in preparing available land for manufacturing, assembly, distribution, production, processing, off-shore wind and other job-producing uses. Industrial activities have specific utility, infrastructure, access and other needs that must be addressed before construction activity can take place. Industrial Site Development will attract new industrial businesses to Rhode Island, and assist existing businesses in expansion efforts, by creating sites that are “ready to go”.
What activities will be part of the Industrial Site Development initiative?
Industrial Site Development includes everything from environmental studies, permitting and engineering to installation of utility infrastructure, environmental remediation, and construction of large-footprint buildings. Some of these activities fill gaps that are critical to making a site ready for development, such as studies and engineering reports, while others upgrade sites for industrial use, such as site grading, utility work and construction.
How will Industrial Site Development work statewide?
Because successful Industrial Site Development is so complex, roll-out of a statewide program will require a multi-pronged approach, based on the successful effort at Quonset. A statewide Industrial Site Development effort may include grants and direct investments, to cover both “soft costs,” such as environmental studies and permitting, and “hard costs,” such as access upgrades and physical construction. There will be a consistent, predictable, transparent application process for funding requests, and each request for investment will be assessed to determine the anticipated benefit to the State of Rhode Island. For projects in which a direct investment is determined appropriate, a Rhode Island Benefits Agreement will be executed with the recipient to outline the required benefits, such as number of jobs created, tax revenue generated and private investment created.
Who can apply for funding?
Property owners, businesses, municipalities, State agencies – or anyone with an interest in preparing a property for development – will be eligible to apply for funding.
What locations will be eligible?
Any site in Rhode Island with a likelihood of large public benefit – jobs created, tax revenue generated, or private investment created – will be eligible for funding.