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By LINDSAY OLIVIER
NORTH KINGSTOWN â€“ Turn your head for a second and youâ€™ll miss something big in Quonset.
More change is coming to the thriving Business Park with the recently announced $400,000 investment from the United States Commerce Developmentâ€™s Economic Development Administration (EDA).
The investment to the Quonset Development Corporation (QDC) will be used to make roadway improvements. This project alone is expected to create 275 jobs and generate $50 million in private investment.
â€śThe Obama administration is committed to job growth and business development, and this grant will fund vital infrastructure needed in the North Kingstown community,â€ť said U.S. Assistant Secretary of Commerce for Economic Development John Fernandez in a press release. â€śThis EDA investment will expand the Quonset Business Park to attract new businesses, including those associated with off-shore wind development, to help diversify the local economy and create new higher-skill, living-wage job opportunities.â€ť
This specific project will produce road access and utility improvements to serve an unused portion on Compass
Circle. QDC bought the 62-acre parcel in the West Davisville area just off of Route 403.
The location is just down the road from the PODS Storage Company. The new Compass Circle Park is expected to attract new companies including wind energy components manufacturers.Â
QDC will also match the investment figure with another $400,000.
QDC Managing Director, Steven King feels this project will strengthen competitiveness by offering a site that is unique in its â€śrobust utility services, location, and scenic wooded bufferâ€ť.Â
The parcel is large enough to accommodate a large manufacturing facility or a corporate headquarters.
â€śOur ongoing partnership with EDA and the continued interest and support of our Congressional delegation have contributed to the success of the Business Park,â€ťÂ King said.
Dave Preston from New Harbor Group, the marketing firm for Quonset, said work will begin in the spring and can start immediately because engineering work is already complete.
Currently, there are 164 companies in the Quonset Business Park employing a total of 8,842 people. Businesses range from offices and manufacturers to warehouse and distribution, marine construction, importation, and more.