Another Piece of the Funding Puzzle at the Port of Davisville
Funding to prepare the Port of Davisville to be a hub for wind energy jobs while maintaining its status as a global leader for auto imports continues to fall into place with the announcement of a $11.1 million federal grant.
Matched with $6 million from Quonset, the funds will support the Pier 1 rehabilitation project and allow roll-on, roll-off cargo vessels to dock at the pier’s south berth for the first time.
The grant was secured with the assistance of U.S. Sen. Jack Reed and Rhode Island’s Congressional delegation through the U.S. Department of Transportation’s Maritime Administration’s (MARAD) Port Infrastructure Development Program.
A second, crucial component of preparing for the arrival of wind energy at Davisville is a $20 million bond measure proposed in the FY 2021 budget now pending before the General Assembly. In addition to paving the way to make Davisville a wind energy port, the bond will help preserve the jobs and economic output that make the Port essential to Rhode Island’s maritime economy.
The Port of Davisville generates $374 million in business output annually, supports nearly 1,700 jobs, creates nearly $100 million in income for Rhode Island families and generates $28 million in state and local tax revenue.
The bond proposal includes the construction of a new Pier at Terminal 5, dredging, and the continued rehabilitation of Pier 1, built in 1941 on 9,100 wooden pilings.
As the leading engine of economic development and job creation in Rhode Island, Quonset has a long history of working with our partners in state, federal and local government.
Voters overwhelmingly approved a $50 million bond investment to rehabilitate Davisville’s Pier 2 in 2016. The project is expected to be completed in 2022 both on time and $5 million under budget.