U.S. Economic Development Administration Invests $625,000 to Boost Capacity at the Port of Davisville in North Kingstown, Rhode Island
Contact: EDA Public Affairs Department, (202) 482-4085
June 22, 2016
WASHINGTON – The U.S. Department of Commerce’s Economic Development Administration (EDA) today announced a $625,000 grant to the Quonset Development Corporation of North Kingstown, R.I., to support the Port of Davisville Terminal 5 paving project. According to grantee estimates, the project is expected to help create 30 jobs.
“Since 2009, EDA has invested $11 million in Quonset to support development projects that have resulted in significant return on investment in both jobs and economic growth,” said Jay Williams, U.S. Assistant Secretary of Commerce for Economic Development. “The investment announced today to support the Port of Davisville Terminal 5 paving project will increase the Port’s capacity to handle new vehicle imports.”
Quonset Business Park is one of the premiere business parks in New England. Managed by the Quonset Development Corporation, it is home to almost 200 companies, employing more than 11,000 people in full- and part-time jobs across a variety of industries. The Port of Davisville at Quonset is one of the top 10 auto importers in North America. EDA’s investments in Quonset were highlighted at the agency’s 2016 National Conference held in Washington in April.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.