Eligibility & Process

Step 1: Apply for Enrollment

Criteria for eligibility:

• Sites that will allow for upgraded or improved infrastructure in support of an industrial use.
• Sites that will allow an existing industrial use or facility to expand significantly.
• Sites that are approximately 10 acres in size (or are capable of supporting an approximately 100,000 square foot building) and are:
  • Zoned for industrial or off-shore wind support uses;
  • Are within one mile of a designated State Highway.

Application process:

• Enrollment Application requires:
  • A Letter of support from the chief executive officer of the municipality; and
  • A Zoning Certificate for the property.
• Submit your Application online: ACCEPTING APPLICATIONS STARTING JANUARY 2022

You applied – what happens next?

• Feasibility assessment for the site will be performed. The criteria for the feasibility assessment include:
  • Zoning compliance
  • Size and/or potential building yield
  • Access for vehicles
  • Environmental Conditions
  • Utility services
  • Title and ownership status
• The Quonset Development Corporation board will vote on enrollment of a site based on the results of the feasibility assessment.

Step 2: Technical Assistance

You’re Enrolled – Next Steps

Enrolled sites are provided technical assistance with engineering, permitting and other pre-development approvals and activities to prepare the Site for development activity. This may include:

• Site survey
• Traffic analysis
• Wetland flagging and mapping
• Community impact analysis
• Soil bearing analysis
• Economic analysis
• Site and off-site engineering
• Environmental remediation plans
• Any other activities necessary to secure a Pre-Permitted Certificate

Sites that do not require permitting assistance may be issued a pre-permitted certificate immediately. RI READY anticipates that each site will receive up to $200,000 in assistance; more complex sites may receive additional assistance.

Step 3: Capital Investment

Submit a Capital Investment Application to R.I. Ready requesting funding in support of on- and off-site improvements, facility development, property acquisition, etc.

Important Details:

• Some eligible applicants may submit enrollment and Capital Investment Applications for simultaneous consideration by the Board.
• Capital Investment Applications must include:
  • Business plan, market study and/or economic analysis for the Site
  • Permitting and/or construction schedule for the Site
  • Pro forma for the site including a description of the financing for the Site, all sources and amounts of funding, projected internal rate of return, net margin, return on investment; and
  • List and status of all required Federal, State, and municipal approvals and/or permits required for the Site.
• Applications are assigned eligibility points based on Capital Investment Criteria, focusing on the Program Goals:
  • Job creation
  • Private investment; and
  • Tax revenue generation

Rhode Island Benefits Agreement:

Quonset Development Corporation and the Applicant will enter into a Rhode Island Benefits Agreement. The R.I. Benefits Agreement will outline the amount of investment for a specific site, the benefits to Rhode Island that can be anticipated due to the capital investment, and other conditions or terms of the capital investment.

Allowing for on-going investment in R.I. Ready sites, the program intends to recover investments from successful projects, as appropriate. The Benefits Agreement will establish the conditions under which investments may be recovered.

Step 4: Ready for Development

Your Site is Ready for Development!

• All sites will have a Pre-Permitted Certificate
• Some sites will be pad-ready
• RI Ready will provide wrap-around services that may include:
  • Economic Incentives
  • Workforce development
  • Building permit assistance
  • Energy savings advice and rebates
  • Transit solutions
  • Marketing services