ECONOMIC DEVELOPMENT AND BUSINESS
The Town Council has prioritized the need to promote economic development including business retention, expansion and location within North Kingstown. This effort is promoted by the North Kingstown Economic Development Advisory Board (EDAB) in partnership with the North Kingstown Chamber of Commerce and the Quonset Development Corporation. The North Kingstown Economic Development function is located within the Department of Planning and Development - Town Hall Annex, 55 Brown Street, North Kingstown, RI 02852. The Economic Development Manager, Paige R. Bronk, AICP, is the Point of Contact to proactively address business inquiries and needs. email@example.com or (401) 268-1572.
NEW BUSINESS IN NORTH KINGSTOWN
North Kingstown is a highly attractive place to conduct business due its central location, amenities, transportation system, and overall quality of life. See the community "Socio-Economic Highlights" file attached below. Also, attached below is a "Flow Chart" providing a one-page snapshot of how to open a business in North Kingstown. Numerous businesses are relocating, expanding, or starting up in North Kingstown due to the favorable community and quality growth. Recent examples include: Carriage Inn and Saloon, BankNewport, Fat Bellys, Sears, Pedigo Electric Bike, Wickford Lumber, Sprigs, Borrelli's Bakery, Rhode Island Real Estate, Providence Coal Fired Pizza, Madge and Mobey, and Bravo Wood Fired Pizza. In addition, the Town continous to support community and business through wise investments in critical environmental, utility, transportation, and recreation infrastructure. Recent examples include road and commuter rail transportation improvements at Wickford Junction, sewer installation on southern Post Road, and Town Council support of two sewer referenda for Post Road North and Wickford Village commercial areas. North Kingstown recently completed a community wide market analysis providing strategic guidance regarding business and economic growth.
NORTH KINGSTOWN MARKET ANALYSIS PROJECT: North Kingstown has completed an extensive community-wide market analysis project. The products are posted below including the Executive Summary, Final Report, Phone Survey, and Market Study Appendix. A final product presentation to the Town Council occurred on Monday, April 21, 2014. That presentation is attached below "North Kingstown Market Study Final Presentation" and it provides a quick overview of the full North Kingstown Market Analysis product.
NEW ECONOMIC REPORTS FOR WICKFORD JUNCTION: Wickford Junction has been identified as a North Kingstown growth center and TOD/TDR programs have recently been approved for Wickford Junction. New socio-economic data for Wickford Junction can be accessed through the attachment below (Wickford Junction Phase I). In addition, a new "Fiscal Impact Analysis" report for Wickford Junction is available below addressing net impacts as a result of potential full build out. The "Fiscal Impact Analysis" illustrates an annual net benefit of over $1,230,914 after considering revenues and costs (service and school costs).
ECONOMIC DEVELOPMENT ADVISORY BOARD (EDAB):
Approved EDAB priorities for 2013/2014 include the following:
- Secure an Economic Development Manager to serve as liaison/Point of Contact for EDAB, businesses (existing and new) and the development community.
- Complete an independently developed comprehensive North Kingstown market analysis.
- Develop a business/development incentive portfolio.
- Identify and use metrics/measures to track progress.
- Create a North Kingstown economic development website.
- Post a database of commercial properties for development on the website.
- Develop North Kingstown promotional material for business development.
- Create a narrative economic development strategy and program plan.
- Review and provide recommendations on the development review process.
- Plan for the redevelopment of key municipal, state, and federal parcels.
- Coordinate with the Quonset Development Corporation.
- Participate with State government regarding statewide economic development initiatives.
The EDAB created the WICKFORD ECONOMIC DEVELOPMENT ADVISORY BOARD (WEDAB) in August 2013 to help promote existing businesses and economic development within Wickford Village. WEDAB's approved mission is as follows:
- Identify strategies to increase vitality and reduce vacancies within Wickford;
- Recommend appropriate redevelopment opportunities and concepts within Wickford;
- Assist to sustain existing businesses withing Wickford by addressing needs and issues;
- Identify existing and future physical and other needs for the Wickford business community including infrastructure, transportation, harbor, amenities, and marketing.
- Recommend creative economic development approaches and new business as supported by the Wickford business community.
Also, a recent Wickford promotional news story was completed and the video can be seen by clicking HERE.
ECONOMIC DEVELOPMENT TAX INCENTIVES:
The North Kingstown Town Council approved the attached tax incentive program that phases tax benefits over a six (6) year timeframe for manufacturing or commercial uses (a recent amendment added retail uses). In addition, North Kingstown "Arts and Entertainment" businesses will realize State of Rhode Island tax benefits effective December 1, 2013.
Economic Development links of interest:
North Kingstown Economic Development Advisory Board
North Kingstown Chamber of Commerce
Quonset Development Corporation
US Chamber of Commerce
Federal - US Business Advisor
Federal - Small Business Administration
RI-netWORKri Connecting Jobs and People
RI-Department of Administration
RI-Small Business Development Corporation
RI-Small Business Advisory Council
RI Business Votes