Governor Donald Carcieri and the Rhode Island Economic Development Corp. (RIEDC) released the "Statewide Strategic Plan for Office and Industrial Site Development." The plan proposes general site development recommendations as well as more specific recommendations based on geographic area that will position Rhode Island to compete for new economic opportunities.
Gov. Carcieri, RIEDC interim director Michael Saul, RIEDC board of directors and state, city and town officials unveiled the plan at the November meeting of the RIEDC board of directors. The plan was developed as a part of the agency's 2009 Economic Growth Plan, which presented concrete action items aimed at accelerating the pace of job growth in our state.
"Having a clear site development strategy is a critical component of our overall economic development plan," said Carcieri. "Matching our physical assets to different economic segments, including biotechnology and life sciences, green technologies, and high-tech manufacturing, will allow the state to better target and attract companies to locate here."
RIEDC has retained economic development firm Moran, Stahl and Boyer to develop the systematic, statewide site strategic plan that aligns Rhode Island's assets with market opportunities.
The plan aims to define the real estate needs for each of the state's economic growth segments, identify the optimum locations within the state for future development to support economic growth, determine any issues and challenges in supplying real estate at the level of readiness required by each economic growth segment, and provide overall observations and recommendations to enhance the long-term real estate needs of the state.
"Identifying real estate options is an essential building block to any successful economic development strategy," said Saul. "As this report is rolled out, RIEDC will work with regional and local leaders to integrate the final plan into statewide marketing and attraction efforts."
Highlights of the plan include recommendations to establish a certified sites program, develop and maintain a database of desirable industrial and office space, develop a strategy for renovation of vintage/industrial building and develop incubator and commercialization facilities for high potential companies.
"Rhode Island will greatly benefit from the Rhode Island Economic Development Corp.'s Statewide Strategic Plan for Commercial and Industrial Site Development," said Kevin Flynn, associate director of statewide planning. "This plan lays the groundwork for the Statewide Planning Office to will work closely with RIEDC and other partners to develop master plans for strategic locations throughout the state and help ensure that sites are used to their maximum potential."
The plan also recommends that master plans be developed and/or monitored for each priority development area mentioned in the plan, including the Rte.146 corridor, areas surrounding exits 7-11 and 2-6 off I-295, Aquidneck Island, Providence's Jewelry District, the University of Rhode Island/Rte.138 region, areas surrounding exits 6, 6A and & off I-95, and Quonset Industrial Park.
"I am pleased to announce a partnership between the Economic Development Foundation of Rhode Island and the Rhode Island Economic Development Corporation to create a statewide, online Site Locator Geographic Information System," said Scott Gibbs, president of the Economic Development Foundation of Rhode Island. "The Statewide Strategic Plan for Office and Industrial Site Development has uncovered several optimal locations for site development and available office, flex and industrial buildings. The partnership between EDFRI, RIEDC and the Division of Planning will enable everyone, including Rhode Island brokers, companies, prospective Rhode Island companies, developers and site selectors, to access a free robust statewide database detailing the current state of all available sites and buildings in Rhode Island."
To read the full report, visit "Strategic Plan for Office and Industrial Site Development."