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Section 3: Economic Development
Section 3:
Economic Development
90-minute catchment area
7.5M population
4M annual passengers
11K daily passengers
2.5K number of cargo flights per year
The numbers provided above are from 2019.
Economic Development
Air Service
As the steward of Rhode Island’s public airports, the Rhode Island Airport Corporation (RIAC) recognizes that our state and region’s economic health and welfare depend on its ability to provide and promote high-quality, cost-effective transportation services and facilities.
According to recent data provided by the Federal Aviation Administration, Rhode Island’s airports support more than 19,000 jobs and have a total economic output of $2.6 billion per year. Whether it is through Rhode Island’s status as a tourist destination to support the local hotel and hospitality industry, work related to our airports has the potential to create thousands of more jobs and millions more in economic output through infrastructure investments and airport travel-related job creation.
Our Catchment Area
Approximately, 7.5 million people reside within Rhode Island T. F. Green International Airport’s 90-minute catchment area. Our area serves an array of prestigious universities, serving over 200,000 students within 1 hour from PVD. Universities include Brown University, Johnson & Wales, Rhode Island School of Design, Harvard University, and Massachusetts Institute of Technology. Many Fortune 500 companies operate in Rhode Island including: CVS Health Corporation, Textron, United Natural Foods Inc., Raytheon Company, FM Global, and Hasbro Inc.
PVD Master Plan Progress – Ready for the Next Twenty Years!
Rhode Island T. F. Green International Airport’s Master Plan provides the city and state with a comprehensive road map of where and how economic development opportunities will arise at the airport over the next twenty years. With so many other opportunities to foster economic activity to benefit both the City of Warwick and the State of Rhode Island, RIAC engaged key stakeholders to form a Technical Advisory Committee (TAC) comprised of representatives from local, state, and federal governmental agencies, airlines, concessions, and private businesses who provided essential input into concepts for airside, terminal, landside, and cargo/general aviation development based upon the forecasted needs and upgrades to existing airport property and facilities. Landside opportunities include needed infrastructure upgrades, terminal renovations and expansions, increased parking availability, and the related income, while airside development opportunities include the possible growth and expansion of cargo services, along with other potential opportunities. The Rhode Island Airport Corporation has also been working with the City of Warwick on the resale of properties identified for redevelopment and return these parcels to city tax rolls, a goal identified in Warwick’s Comprehensive Plan to find smart reuses that spur economic development that are in-line with the City Centre Warwick Master Plan concepts. Rhode Island T. F. Green International Airport’s Master Plan was finalized and submitted to the Federal Aviation Administration in early 2021. Rhode Island T. F. Green International Airport’s Master Plan provides the city and state with a comprehensive roadmap of where and how economic development opportunities will arise at the airport over the next twenty years.
Technical Advisory Committee Chart
General Aviation Strategic Business Plan
The Rhode Island Airport Corporation (RIAC) is currently developing a General Aviation Strategic Business Plan to foster improvements at public airports throughout the state and to create an improved and selfsustainable airport system. The creation of revenue sources directly or indirectly related to aviation enables an airport to offset some of the lulls inherent in the aviation industry and can provide critical and consistent income to benefit airport management and infrastructure reinvestment.
Development of a ten-year plan which will summarize, identify and prioritize the necessary key elements:
• Infrastructure improvements at each airport • Airside and landside pavement repair and reconstruction at each airport • Updated airspace analysis plan that will identify current obstructions present within the airspace surrounding the airports and runways • Preparation of a ten-year business plan that will evaluate each airport’s current financial health, define economic development opportunities and provide potential paths forward to establish self-sustaining operations
Parcel Assessment at Public Airports Seek to Encourage Job Development
Although the aviation industry is cyclical and reacts quickly to changes in the national economy, many opportunities still exist to improve Rhode Island’s public airports and ensure they can be stable, self-sustaining local resources well into the future.
As a preliminary step to determining the available economic development opportunities at our General Aviation airports, RIAC reviewed parcels of land on General Aviation airport properties to determine where the potential exists for economic development on airport property and assess the feasibility of development. These efforts will allow RIAC to proactively market and promote parcels that hold the best opportunity for development and job creation within local public airports’ current confines.
While the General Aviation Airport Strategic Business Plan process continues, RIAC is better prepared to implement economic developments that arise in the present and be prepared for the “smart growth” of local economic development opportunities of the future.
On the Horizon – Upgrades to Rhode Island T. F. Green International Airport Restaurants and Retail
Despite the impact of the COVID-19 pandemic, RIAC moved forward in negotiating a new Concessions Agreement with Paradies Lagardère, a leading North American travel retailer and restaurateur, which brings experience and best practices in delivering engaging traveler experiences.
Paradies Lagardère, the current airport concessionaire, presented an exciting and dynamic proposal to develop new retail operations that will create well-paying, longterm jobs and needed revenue for the airport. The capital investments in new retail shops will also provide passengers with an exceptional retail shopping experience and new concepts as passenger volume grows.
While the impact of the pandemic on passenger volume will require these investments be phased in as customer demand may warrant, RIAC is excited to continue to work with Paradies Lagardère in developing this critical component to customer satisfaction.
As enplanements are expected to grow once COVID-19 is under control, RIAC staff will also be prepared to release a new Request for Proposals (RFP) to expand food and beverage offerings at the airport. RIAC is pleased to be working with Grove Bay Concessions, LLC at Rhode Island T. F. Green International Airport (PVD) following a public Request for Proposal process. Following the re-opening of Wolfgang Puck Express in Rhode Island T. F. Green International Airport’s South Concourse, Grove Bay introduced a selection of regional cuisine at a new restaurant, Providence Provisions-Kitchen and Bar on the North Concourse. RIAC was especially pleased that Grove Bay has also agreed to prioritize hiring individuals who were previously employed by the former master concessionaire prior to the impact of COVID-19 on passenger volume and expiration of its contract with RIAC in July of 2020. RIAC is currently working with Grove Bay on additional concepts intended to serve as a mid-term solution to add restaurant capacity in support of current passenger volume. RIAC staff expects to develop a longer-term solicitation to add future restaurants as the aviation and airport industry recover from the COVID-19 situation.
