Gov. McKee, RI Ready announce application period for $40 million economic development initiative

QUONSET, R.I. (WLNE)- Governor McKee and RI Ready have announced the opening of applications for the new $40 million economic development program at Quonset Business Park Wednesday.

RI Ready is a statewide industrial site initiative to prepare sites to host new companies and create new jobs. With $40 million in funding approved by voters, RI Ready can provide services to create an inventory of properties permitted and ready for development and job creation.

“Rhode Island Ready is a smart, exciting new program that will help bolster our economy and create jobs for Rhode Islanders,” said Governor Dan McKee. “This initiative will help cities and towns make the most of properties already zoned industrial, creating jobs and economic development that will benefit the entire state. This is an important investment in our state, and I’m confident that the program can replicate Quonset’s success with site readiness.”

RI Ready partners with Quonset Development Corporation and RI Commerce. They will provide pre-development and permit review, workforce development, transportation enhancements, state agency liaisons and other needed support.

“We are excited to formally launch Rhode Island Ready across Rhode Island’s 39 cities and towns,” said Chelsea Siefert, Director of Planning & Development at the Quonset Development Corporation and Program Manager of RI Ready. “Our team is excited to work with private business owners and municipalities to activate industrial sites, bringing new jobs and tax revenue to Rhode Island.”

“In the course of the pandemic, our state has never closed the manufacturing sector – and industrial jobs have already returned to their pre-COVID levels. Because our manufacturing economy is strong and because demand for additional industrial land is significant, there is now a major opportunity for growth in this sector,” said Rhode Island Commerce Secretary Stefan Pryor, who also chairs Quonset’s Board of Directors. “Given the success of Quonset’s preexisting site-related program, we know that the RI Ready initiative will be valuable to communities and developers across our state. We thank the team at Quonset including the organization’s Managing Director and board, the General Assembly including the Speaker and Senate President, the Commerce Corporation including its business development leadership, and the voters of Rhode Island for their support of this initiative.”

Site eligibility includes the following criteria:

• Sites that will allow for upgraded or improved infrastructure in support of an industrial use.
• Sites that will allow an existing industrial use or facility to expand significantly.
• Sites that are approximately 10 acres in size, or capable of supporting an 100,000 square foot building, are zoned for industrial or off-shore wind support uses, and are within one mile of a designated State Highway.

Applications can be submitted through an online portal linked here.