In This Issue
House Speaker, Senate President Tout Quonset's Site-Readiness Program
Gateway Offices Fully Leased
BankNewport: Quonset An Important State Asset

In the News

URI Highlights Quonset Business Park and QDC's Steven J. King '88 in latest edition of QuadAngles



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House Speaker, Senate President
Tout Quonset's Site-Readiness Program
For Regional Audience

Senate President 
Teresa Paiva Weed 
House Speaker 
Gordon Fox 
Rhode Island Senate President, M. Teresa Paiva Weed (D - Dist. 13, Newport, Jamestown) and Speaker of the House, Gordon D. Fox (D - Dist. 4, Providence) have authored a piece in the New England Real Estate Journal highlighting the site-readiness program at the Quonset Business Park. The legislators tout the program as an example of how to reduce red tape and create more jobs in Rhode Island for the Journal's regional audience.
Quonset Business Park is a key driver of job creation and economic growth in Rhode Island. It is now home to more than 175 companies, with 9,500 full-time and part-time jobs. The Port of Davisville is one of the Top Ten auto-importers in North America. The Senate President toured the Business Park just last month.

"This program is making it much easier for existing businesses to expand at Quonset and for entrepreneurs to discover what a welcoming climate exists for businesses there," the legislative leaders write. "The site-readiness program provides business owners with a streamlined and expedited permitting process, practical tools they need to save them time and money. This is indeed a model initiative that has a demonstrated track record of success."

To read the full press release, click here. To see the full opinion piece, click here. 

Gateway Offices Fully Leased;
Phase II on the Horizon


Gov. Lincoln Chafee cut the ribbon of the new Quonset Gateway Offices less than two months ago. Today, they are already fully leased to several Rhode Island small businesses. The Gateway Offices are a new initiative launched by the Quonset Development Corporation (QDC) to provide modern, state-of-the-art office space for start-up businesses or other small businesses.
"We are extremely excited to be able to provide these affordable, attractive, state-of-the-art offices to new start-ups and existing small businesses in the community," said Steven J. King, P.E., Managing Director of the QDC. "This initiative will help grow more jobs and spur economic growth."
"We look forward to getting started on Phase II of the project in the next several months," he added. 

The new building, which is located in the Quonset Gateway District, provides tenants with modern amenities, affordable rates, and the option of short-term leases, including a month-to-month option. The new facility includes a reception staff to field phone calls and visitors for all tenants, wireless high-speed Internet, shared break areas (including an outdoor courtyard), a conference room, an abundance of natural light and multiple restrooms.  
BankNewport: Quonset An
Important State Asset and
e Want to Be Part of It 
BankNewport officially broke ground recently at the site of its newest branch (13) location at The Quonset Business Park, with an anticipated opening in January 2014.

"We picked Quonset because it is an important asset for the state and we want to be part of it," said BankNewport Executive Vice President for Community Banking, Robert E. Maddock. "In fact, we have several customers who are located in the Business Park. With 9,500 people working at 175 companies, it is definitely a vibrant, growing place." The Quonset location will be positioned to support BankNewport's existing branch located at Route 4 and Route 102 on the western side of North Kingstown, as well as their branch on Division Street in East Greenwich Square.

Founded in 1819, BankNewport has a wide range of lending and deposit services. As a local community bank with its executive and lending management on site, BankNewport is able to meet the credit needs of its customers in a timely and comprehensive manner.

BankNewport has historically been one of the top residential mortgage lenders in its markets, servicing all of its mortgages locally. BankNewport is also an active commercial lender throughout Rhode Island and southeastern Massachusetts. Over the last several years, BankNewport has been the #1 SBA 504 first mortgage lender in Rhode Island and one of the top SBA 504 first mortgage lenders in New England.

"BankNewport is a community bank committed to its customers, its employees and to the community," Maddock added. "Being a good neighbor and a good corporate citizen is deeply rooted in the Bank's heritage."