In a state where land zoned for industrial use is at a premium, Rhode Island is proving that smart, strategic investment can unlock new potential from long-dormant properties.
For years, the industrial site at 1 Moshassuck St. in Pawtucket, sat vacant. However, construction has recently begun and what was an empty lot is now the future home of a 160,000 s/f, state-of-the-art distribution facility and the hundreds of jobs that come with it — thanks in part to a $1.5 million investment from the Rhode Island Ready (RI Ready) program.
Led by the Quonset Development Corp. (QDC), RI Ready is a statewide site-readiness initiative modeled after Quonset Business Park’s successful site readiness program, which guarantees shovels in the ground just 90 days after signing a lease.
RI Ready identifies and prepares industrial-zoned sites for development, with the goal of driving job creation, private investment and long-term economic growth.
The Moshassuck project is a perfect example of this mission at work. The new distribution facility is estimated to create approximately 300 new jobs, generate $23.6 million in household income for New England families and leverage $35 million in private investment.
Once complete, the facility is also expected to generate over $3.8 million in state and local tax revenue, delivering long-term value to both taxpayers and the city of Pawtucket.
“This is a great example of a public-private partnership supporting development of what was previously underutilized and vacant land,” said Pawtucket mayor Donald Grebien. “The Rhode Island Ready investment will support one of Pawtucket’s most important economic development projects.”
Designed with tenants in mind, the new facility will feature 32-ft. clear ceiling heights, up to 25 loading docks, wide column spacing, LED lighting, and high-efficiency fire protection systems. Its location — strategically situated between I-95 and Rte.1 — makes it ideal for companies looking to distribute goods along the bustling Boston-to-New York corridor.
RI Ready’s $1.5 million investment is funding an infrastructure overhaul at the busy intersection of Moshassuck and Main Sts., including accessibility improvements, an improved truck turning lane, updated traffic signalization, utility relocations, drainage improvements and upgrades to curbing, sidewalks and landscaping.
In addition to direct investment, RI Ready project sites are also provided with technical assistance in engineering, permitting and other pre-development approvals and services to prepare the site for development activity.
To learn more about how you might take your industrial property from underutilized to generating jobs, income and tax revenue, visit RIReady.org.
Steven J. King, PE, is the managing director of the Quonset Development Corp., North Kingstown, R.I.