House Finance hears case for $115M economic development bond, including $70M for site readiness and $45M for ocean/ life‑science infrastructure

Secretary of Commerce Stefan Pryor told the House Finance Committee the proposed $115 million bond is intended to remove a key constraint to economic growth: limited pad‑ready industrial land and insufficient testing and wet‑lab infrastructure. "We are requesting $25,000,000 in new capacity" for the Rebuild program and support the $115,000,000 bond, Pryor said, outlining $70 million for site development and $45 million for growth‑industry infrastructure.

The administration framed the package as a strategic, flexible fund for land acquisition, environmental remediation, infrastructure (water, sewer, electrification) and investments that enable private follow‑on development. Pryor emphasized Quonset Business Park as an example of constrained but high‑value industrial capacity and said investments are needed statewide to replicate that model. "Quonset is running out of room," he said, noting the park supports thousands of jobs and high wages.

Committee staff (Sharon) provided background on Article 6 and Article 3. She said the governor's proposal would raise the Rebuild RI cap from $225 million to $250 million, extend nine program sunsets by one year and leave most funding allocations unspecified. "The language proposed lists a number of uses for this, duplicated here: land acquisition, environmental remediation, infrastructure, site prep for pad‑ready sites, and project investments," Sharon said.

Business and labor witnesses urged passage. Stephen King, managing director of the Quonset Development Corporation, described a statewide site‑readiness effort that has enrolled dozens of sites and stressed the need to retain and attract large manufacturers. Liz Katucci of the Partnership for Rhode Island said the bond would expand the state’s ability to compete for advanced manufacturing, defense, and life‑science projects. Anthony, speaking for the building trades, urged the committee to tie funds to strong labor standards and prevailing‑wage protections.

Critics and analysts urged stronger program review. Alan Krinsky of the Economic Progress Institute criticized routine one‑year sunset extensions, saying they are repeatedly renewed without thorough use of Office of Revenue Analysis (ORA) findings. "We extend them without reviewing the ORA reports," Krinsky said, and urged public hearings and firmer evaluation to use sunsets as an accountability mechanism. Pryor and administration staff responded that ORA reports are consulted and have informed past budget recommendations; he said ORA has recommended reauthorizing key programs, including Rebuild and Qualified Jobs.

Committee members asked practical questions about how funds would be allocated and how the administration plans to coordinate with the University of Rhode Island on testing infrastructure and with RIPTA on worker transit to Quonset. Pryor and Stephen King said they are coordinating with URI and have discussed transit links and site‑assembly strategies. Members also sought a company listing and ORA‑based performance metrics; the administration offered to provide additional materials.

The hearing closed with testimony from municipal and developer representatives describing local redevelopment projects (Unity Park, Vatten Systems, Saab, KVH) that rely on tax credits and site readiness. The committee took no votes at the session; members signaled continued questions about program evaluation and allocation guidance ahead of future action.