Electric Boat to Lease Warehouse at Quonset Point

"The Electric Boat shipyard is set to take over a large warehouse in the Quonset Business Park to store materials for construction of nuclear submarines.

The board of directors of the Quonset Development Corporation, which manages the state-owned park, last night unanimously approved leasing the 125,000-square-foot building on the Davisville waterfront to the company for at least the next five years. The decision was made after a brief discussion.

Under the agreement, Electric Boat will pay $418,000 a year for the warehouse, which was most recently occupied by PODS, a company that supplies storage containers for moving. As a result of the deal, the Town of North Kingstown will receive $63,000 annually in payments in lieu of taxes."

The full article can be found at projo.com.