Pier 2 is the
Pier 2 is the "work horse" of Quonset's Port of Davisville
The Rhode Island General Assembly reaffirmed its commitment to investing in the success of Quonset Business Park's Port of Davisville when it approved the FY2017 state budget last week. Included within that legislation was Governor Gina M. Raimondo's $90 million modernization plan for Pier 2 at the Port of Davisville.  Governor Raimondo signed the budget into law on Friday. Today, there are more than 75 companies that rely on Quonset's Port of Davisville to put $97 million of annual earnings into the pockets of Rhode Island workers.  At the same time, the Port generates $27 million in state and local taxes and accounts for 1,500 direct, indirect and induced jobs. Consistently one of the Top 10 auto ports in North America, the Port of Davisville has experienced 547% growth over the past 20 years. Last year marked its sixth consecutive record breaking year of auto imports. The Governor's plan would support the modernization of Pier 2, built in 1956 with a design life of 50 years.  It will re-configure the Port for additional growth and provide more berthing capacity so other shippers can be pursued to call at the facility. Most importantly, it would preserve hundreds of jobs in the maritime sector and keep Rhode Island competitive with other ports in the region. This initiative is a critical component to the Port's growth.   The increase in off-shore wind projects, opportunities in short-sea shipping, and an even stronger auto import business are all on the horizon.   This investment will ensure the Port's continued momentum can help drive the local economy and bring more commerce to Rhode Island.  The investment will be made in three parts: a $50 million general obligation bond; a $15 million appropriation from the State's Capital Plan Fund, and; a $25 million revenue bond.  The revenue bond will be repaid exclusively by the QDC and port users, at no cost to state taxpayers.  The $50 million general obligation bond must be approved by voters in this November's election, and will be paired with a $20 million bond to expand the bustling Port of Providence.