What is Quonset Development?
The Quonset Development Corporation (QDC) is a real estate development and management entity established by the Rhode Island General Assembly on July 1, 2004. Its core responsibility is the comprehensive development and management of the Quonset Business Park. The QDC operates under a Master Land Use and Development Plan, aiming to attract and retain successful businesses that contribute to diversified job creation and economic prosperity for Rhode Island.
How much funding has Quonset Development raised?
Quonset Development has raised a total of $11.3M across 1 funding round:
Grant
$11.3M
Grant (2024): $11.3M with participation from US DOT Maritime Administration
Key Investors in Quonset Development
US DOT Maritime Administration
The US DOT Maritime Administration (MARAD) is a government agency focused on promoting the U.S. Merchant Marine and the American maritime industry. Its mission includes strengthening the maritime transportation system, encompassing landside infrastructure, shipbuilding, and labor, to meet national economic and security needs.
What's next for Quonset Development?
With the recent major strategic investment, Quonset Development is poised for accelerated expansion and enhanced operational capabilities. This capital injection is expected to fuel further development within the Quonset Business Park, likely focusing on infrastructure improvements, attracting new enterprises, and potentially expanding existing business footprints. The company's trajectory suggests a focus on long-term economic impact and job growth, leveraging its strategic location and development expertise.
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