Director of New Applied Economics Program Unveils Economic Impact Study for Quonset
The Quonset Development Corporation unveiled new economic numbers from a Bryant University study today showing that investments made by the state and federal government at Quonset Business Park are producing major benefits for Rhode Island’s economy.
The study, conducted by Dr. Edinaldo Tebaldi of Bryant University, shows that Quonset supported more than 21,000 full-time equivalent (FTE) jobs or 1 out of every 23 jobs in Rhode Island.
Quonset also produced $2.85 billion in economic output, $1.26 billion in labor income, and $113.1 million in tax revenues in the Ocean State.
“Economic activity at the Quonset Business Park is having a significant impact on our economy,” said Dr. Tebaldi, Associate Professor of Economics and director of the new graduate program in Applied Economics at Bryant University. “The Park creates jobs, labor income, and output at its facilities, all of which greatly stimulate the local economy and play a major role in Rhode Island’s growth.”
The figures were unveiled at an event attended by the state’s elected leaders, including: Governor Gina Raimondo, U.S. Senator Jack Reed, U.S. Senator Sheldon Whitehouse, U.S. Representative Jim Langevin, U.S. Representative David Cicilline, Senate President Teresa Paiva Weed, and others.