Future of the Port of Providence

According to Rhode Island Sea Grant there are 17 ports in RI and Providence port is the biggest of them. - http://seagrant.gso.uri.edu/coast/portsharbors.html

The port of Providence is one of the busiest ports in America’s Northeast, it is also one of only two deep-water ports in New England (another one is in Boston). Providence Port generates $200 million total economic impact on the region, thus being a critical economic engine for New England. More than a dozen of companies located there provide more than $60 million in direct business revenues and $16 million in revenue to local and state government (http://www.provport.com/ ).

According to Providence Working Waterfront Alliance, the city of Providence is considering zoning changes, which may harm the future working waterfront development. As laid out in the Providence 2020 Plan, the working waterfront would be rezoned for mixed uses such as residential condominiums, marinas, hotels, retail shops, and restaurants.

As can be summarized from the Providence Working Waterfront Alliance website, http://www.providenceworkingwaterfront.org/, the port of Providence is an essential part of the economy of the whole region, so it has to be kept and developed, due to the following facts:

·         There are no relocation alternatives for the Port of Providence;

·         Building hotels, condominiums will bring government revenues in a short-term, but keeping the Port brings annual revenues and economic development perspective for the region in a long run. Also, fully utilizing the port could bring extra business revenues and additional state and local tax revenues;

·         Providence working waterfront provides thousands of jobs. And, as an ongoing study of port development in Rhode Island has found that there is potential for 1,000 new jobs from cargo shipping, auto imports and the staging of offshore wind farms (http://www.offshorewind.biz/2011/03/28/study-shows-1000-potential-new-jobs-at-ri-ports-from-cargo-shipping-auto-imports-and-offshore-wind-farms-usa/ ).  

·         Providence’s working waterfront is the main source of heating oil for Rhode Island, Southeast Connecticut, and Central and Southeast Massachusetts.

I am convinced that the port of Providence is the key element of the region’s economy. Rezoning the working waterfront could be threatening for the economy in a long run. In my opinion, instead of spending money on building restaurants and hotels, government should consider investing money in the port development in order to create new jobs and increase business revenues and revenues from tax collection.