For the First Time: New Lease Incentives Available to All Quonset Tenants
As part of it's commitment to attract and retain successful businesses, the QDC Board adopted two Standard Lease Incentives at the August 5th board meeting that will be available for all tenants entering into new land leases.
The first incentive builds upon and enhances the QDC's "lease only" policy, encouraging longer term commitments from tenants. Offered in five year increments, the longer a tenant agrees to keep their business at the Park, the larger the discount available to them. This rewards tenants with lower lease rates, provides stability, and broadens their private financing options. It also provides QDC with a predictable and sustainable revenue stream to fund park operations and infrastructure maintenance. (The Business Park funds 100% of its operating expenses without any taxpayer money from the state General Fund.)
The second incentive offered to tenants in a new lease relates to the employment and wages provided by a land lease employer at the Park. This incentive rewards both quality and quantity of jobs by offering a deduction on a percentage of the payroll. Therefore, the benefits to a company with fewer, but higher paying jobs is the same as a company with many more jobs. The approved incentive provides a discount of 0.5% to a land lease tenant based on their annual wages, as reported to the Division of Taxation on the Quarterly Tax and Wage Report. This incentive is capped to a limit of 50% of the annual leased rate.
Together, these two incentives help the QDC promote transparency, fairness, and predictability, enhancing the competitive position of the Park and creating a more business-friendly environment. For further information on the incentives, please contact the QDC offices at 401.295.0044.
|
Protecting the Historic Allen Madison House for Future Generations
 | The Allen Madison House
as it stood in the 1930s |
The historic Allen Madison House is the most safe and snug that she has been in decades! Following the departure of the Navy in 1979, this historic house located on the grounds of Quonset was empty, neglected, vandalized and deteriorated over the last two decades, but things are looking up.
The site itself is still owned by the Navy, but the Quonset Development Corporation (QDC) now manages the house and property, and has undertaken stabilization of the house to protect it from further decline. Over the past decade, QDC has installed a new roof, new gutters, repaired the chimney, and painted the exterior. In 2011, QDC and the Friends of the Allen Madison House (FAMH) collaborated on repairs to the stone foundation, improving the structural integrity of the house and preventing occupation by local critters. In addition, it was recently announced that the FAMH recently received a grant of $5000 from the Felicia Fund to help install a new fire and security alarm system to help prevent intrusions or potential fire damage.
These recent stabilization projects have set the stage for the next step for the house - restoration! R estoration is a necessary step toward re-use and sustainability for the house to move ahead in its third century. For those interested in helping, we encourage you to check out the FAMH Facebook Page or the FAMH blog to learn more about the effort!
 | |
The Allen Madison House as it sits today
|
|
Quonset Tenant - Bill Weedon of
Applied Radar, Inc. Receives
Entrepreneur Achievement Award
Applied Radar's CEO Dr. William H. Weedon has been selected as a 2012 recipient of the IEEE-USA Entrepreneur Achievement Award "for supporting entrepreneurial small business growth." The Institute of Electrical and Electronics Engineers (IEEE) is the world's largest professional association for the advancement of technology.
 | | Dr. William H. Weedon, Ph.D. |
"I am truly humbled to receive this national recognition for advancing small business, particularly in this difficult economic time," according to Dr. Weedon, the CEO and founder of Applied Radar, Inc.
"I started Applied Radar 17 years ago, and this past year has been the most difficult, due to Government sequestration and budget cuts. But we are continuing to innovate and develop new technology including a new broadband millimeter-wave digital communications system for commercial data backhaul, and advanced phased-array radar technology that will dramatically lower the cost and increase the performance of the US military's radar sensing systems."
The award was presented to Dr. Weedon in Portland, OR on August 3, 2013 at the IEEE-USA annual meeting and awards banquet.
|
