Gov. Lincoln Chafee joined state officials and local business leaders today to announce that the Port of Davisville at Quonset Business Park has now moved up to become the 7th largest auto importer in North America. Based on figures for 2011, more than 150,000 automobiles were imported at the Port during the year, and another 41,000 autos came to Davisville by rail. The business park is already considered one of the premiere business parks in New England and one of the largest in the Northeast. Quonset is home to more than 165 companies, employing approximately 8,800 people in a variety of industries.  
 
"The Port of Davisville - as well as the entire Quonset Business Park - is one of Rhode Island's key assets," said Governor Chafee. "Last year's results put us ahead of Boston, Halifax, Philadelphia, Norfolk, Charlestown, Seattle and others as one of the premiere auto ports on the continent."  

"Building on our success at Davisville aligns with my administration's efforts to maximize Rhode Island's assets and build on their success," Governor Chafee continued.

In 2011, the Port imported 150,519 autos, which is the second consecutive year of double digit percentage growth. The amount of cars imported is more than four times the volume seen at the Port just 15 years ago. In addition to the autos arriving by sea, another 41,797 autos came to Davisville by rail. To read more about the latest milestone, click here.

In addition to announcing the Port of Davisville's climb to become the 7th largest auto importer in North America, Gov. Chafee also advocated for a provision included in his FY2013 State Budget proposal that would allow the Port to increase the number of autos imported during the year, accept other cargoes and create more jobs. The provision authorizes the Quonset Development Corporation to finance $7.5 million in debt for a dredging project that will ensure a deeper and wider channel for ships to pass.  As a subsidiary of the Rhode Island Economic Development Corporation (EDC), the Rhode Island General Assembly must approve a measure that allows the EDC to issue a bond, on behalf of the QDC, to pay for the project.   
 
"It's important to note that the funding itself will not cost taxpayers a dime," explained Steven J. King, P.E., managing director of the QDC. The approved debt will be re-paid by the Quonset Development Corporation through monies collected from port users themselves and QDC operational revenue. A portion of lease payments are utilized for capital expenditures. The QDC estimates that the funding will be repaid within ten years from the time it is issued. If approved by the General Assembly, the dredging project would begin in October 2012 and be completed by the spring of 2013.