In This Issue
Gov. Chafee Announces
New Lease with EB
Congressional Delegation Briefed on Port of Davisville in Washington
Falvey Insurance Receives 'Best Places to Work' Award

In the News

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Gov. Chafee Announces New Lease,
Major Expansion by Electric Boat
at Quonset Business Park 
Gov. Lincoln Chafee
Governor Lincoln D. Chafee announced today that General Dynamics Electric Boat (EB) and the Quonset Development Corporation (QDC) have reached a new 25-year lease agreement to extend and expand Electric Boat's footprint at Quonset Business Park. Approved by the QDC's Board of Directors at yesterday's December meeting, the expanded lease will give Electric Boat the flexibility it needs to construct new, specialized facilities for submarine programs.

The terms of the agreement expand Electric Boat's footprint by about 42 acres, which includes more than 1 million square feet of building space. Currently Electric Boat leases 100 acres at the business park, and owns an additional 33 acres. The company performs a variety of activities at Quonset, including manufacturing, hull fabrication, modular construction, coating and steel processing. The 25-year term will be the longest lease term that Electric Boat has held at the Quonset Business Park.

The new lease also includes an incentive package which provides a discount depending on the length of the lease and an additional discount for job creation. The incentive program is the standard incentive offered by the QDC to all future tenants.

"Today's announcement means more good paying jobs with excellent benefits for Rhode Island and will help boost our economy," Governor Lincoln D. Chafee said. "It's only a matter of time now before there are more than 10,000 jobs across all the companies here at Quonset Business Park," he added.

"Since Electric Boat opened its Quonset fabrication plant 40 years ago, we have enjoyed an excellent relationship with the State of Rhode Island," said Electric Boat President Jeffrey S. Geiger. "This new agreement provides us with the room we need to meet the Navy's future shipbuilding needs, and these facilities, designed for efficient production, provide the U.S. Navy the most cost-effective approach." 

To learn more about the announcement, click here.  

Congressional Delegation Briefed on
Port of Davisville in Washington


Sen. Jack Reed meets with Evan Matthews of the QDC on a recent trip to Washington
Evan Matthews, Director of Port Operations for the Quonset Development Corporation recently traveled to Washington, DC to participate in the North Atlantic Ports Association's (NAPA) semi-annual conference. During his visit, Matthews had the opportunity to brief members of Rhode Island's congressional delegation and their staffs regarding the Port of Davisville. 

The meetings covered a variety of topics, including how the infrastructure improvements made to the Port of Davisville over the past few years have positioned it for greater growth. Matthews also discussed current activities underway to help prepare for the arrival of Honda autos which will begin to arrive at the Port in 2014. Discussions also focused on the future of short sea shipping and current legislation in Congress. 
Quonset Tenant, Falvey Insurance, Receives 'Best Places to Work' Award

Falvey Insurance Group was recently named as one of the "Best Places to Work in Insurance" for the fourth consecutive year, by Business Insurance news. The annual program was designed to identify, recognize and honor the best employers in the insurance industry by Business Insurance and the Best Companies Group. The ranking of the fifth annual "Best Places to Work in Insurance" were unveiled at an awards luncheon this past October in Chicago. The employers that make the 2013 list were also profiled in the October 21 issue of Business Insurance magazine.

Under the umbrella of Falvey Insurance Group is Falvey Yacht Insurance, Falvey Shippers Insurance, Falvey Systems, LLC, Falvey Cargo Underwriting, and Safe Harbor Pollution Insurance, LLC . The main office of Falvey Insurance Group is located at the Quonset Business Park in North Kingstown, Rhode Island. The Falvey Insurance Group employs more than 50 people. To learn more about the award, click here.