Quonset Business Park brought in $5.9 billion for Rhode Island in 2022

PROVIDENCE, R.I. (WLNE) — The Quonset Business Park made $5.9 billion for Rhode Island last year, according to an economic impact study released Tuesday.

Gov. Dan McKee joined state leaders and Quonset and Bryant University officials to update the public on the growing business hub.

“The Quonset Business Park creates high-paying jobs, labor income, and output at its over 200 companies, which continue — via the multiplier effect — to stimulate and strengthen economic activity throughout our state’s economy,” said Dr. Edi Tebaldi, Ph.D., professor of economics at Bryant.

The former naval air station in North Kingstown hosts 229 companies and currently supports over 13,500 jobs.

The report showed the park brought in $5.9 billion last year. It supported 24,681 full-time jobs, representing 5% of total employment in Rhode Island in 2022.

That includes 13,033 direct jobs at the park. Of those, 7,680 are manufacturing jobs with high pay rates; this represents 19% of manufacturing employment in the state.

“Quonset’s growth, continued job creation with high wages, income generation, and tax revenues demonstrate its vital role as a driver of Rhode Island’s economic prosperity,” said House Speaker Joe Shekarchi.

Managed by the Quonset Development Corporation, the park attracts visitors by road, sea, rail, and air.

The park has expanded by 627 acres since it opened in 2005.