The Port of Providence is one of the busiest ports in America’s northeast and one of only 2 deep water ports in New England.
According to a recent study conducted by a special legislative commission, the ports in Providence, Davisville - North Kingstown, and Newport, offer great opportunities for the state. If these ports are further developed they could grow the Rhode Island economy immensely. The recommendations of the study could generate an additional 1,000 jobs, $70 million in personal income, $127 million in business revenue and $8.1 million in state and local tax revenue! The could be great a opportunity for prosperity in Lil’ Rhody!
Rhode Island’s port-related economy currently employs more than 3,600 people, generates more than $320 million in economic activity and provides annual taxes of $25 million. Even with the great economic contribution that already exists, the Providence Planning Department’s Waterfront Plan, is looking to mix industries, and threaten business within the port. They have a “vision of mixed-use residential and hotel uses directly next to heavy marine industrial business”. This would allow hotels, marinas, and condominiums to be built immediately adjacent to existing oil terminals. Yuck! – who really wants to live next to oil terminals?! No one does, which is why if the state moves forward with this plan, it will result in complaints and lawsuits made by residents that will ultimately put limitations and restrictions of businesses in the area, affecting productivity and the economy of the state. There are many examples of similar scenarios in which housing was built in close proximity to industry and the residential community has consistently won the disputes, ultimately shutting businesses down.
“Visions” such as this have caused many businesses to question their future in the Port. If the state has other plans in mind, where will that leave them and where will that leave their employees and the economy?! The infrastructure in the Port of Providence allows them to offload over 2,000 ships annually, handling over 2.5 million tons of cargo such as coal, cement, chemicals, salt and aggregates, steel, copper and forestry products. Providence is an important gateway for the importation of petroleum products, since almost all of the transportation and heating fuel products are consumed in Rhode Island, eastern Connecticut and part of Massachusetts.
The city of Providence has many other areas that can attract tourism and condo development without destroying a key economic contributor such as the Port of Providence. The state should focus on selling the existing luxury condos that are vacant due to economic hardships, rather than creating additional buildings. People cannot afford pricey luxury apartments/condos anymore. Many existing condos are being auctioned for almost 70% off of the original asking price. The city should focus on creating good paying jobs for the people of RI while the unemployment rate is on the rise.
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