Rhode Island House Bill H6428

Rhode Island 2023 Regular Session

• Introduced: 5/19/23
• Refer: 5/19/23

Caption

Joint Resolution Making An Appropriation Of $5,000,000 To The Quonset Development Corporation For Waterfront Infrastructure Improvements (this Resolution Would Authorize The Appropriation Of The Sum Of $5,000,000 To The Quonset Development Corporation For Waterfront Infrastructure Improvements.)

Impact

The financial investment outlined in H6428 is expected to yield significant economic benefits, generating approximately $374.3 million in business output annually and supporting nearly 1,700 jobs. Additionally, the Port of Davisville contributes substantially to state revenue, with the potential to further augment state and local tax receipts through increased commercial activities resulting from the infrastructure improvements. These enhancements are not only vital for the port's operational capacity but also for the future sustainability and growth of Rhode Island's maritime economy.

Summary

House Bill H6428 proposes an appropriation of $5,000,000 to the Quonset Development Corporation for essential waterfront infrastructure improvements at the Port of Davisville. This funding is aimed at enhancing the capacity of the port, which plays a crucial role in supporting Rhode Island’s economy, particularly in the growing blue economy and offshore wind sectors. By modernizing the waterfront infrastructure, the state aims to facilitate greater imports and prepare for future wind energy projects, thereby bolstering economic activity in the region.

Contention

While the bill emphasizes the positive economic implications, potential points of contention may arise around the funding's allocation and the priorities of infrastructure spending amidst competing public needs. Discussions could center on ensuring that the investment translates into real benefits for local communities, particularly given that the request for this appropriation aligns with broader economic transformation goals. Stakeholders may debate the effectiveness of such funding in stimulating growth versus addressing other pressing community needs.