Providence Knowledge District

Overview

Positioning Rhode Island to seize economic opportunities in the 21st Century

The relocation of I-195, better known as the I-Way, in Providence, has made approximately 19 acres of land available for redevelopment in Rhode Island’s capital city and represents one of the most important economic development opportunities in Rhode Island’s recent history.

The redevelopment has the potential to change the skyline of the capital city, add significant office and commercial space to the area and create a new hub of high-wage, high-skilled job growth in knowledge-based industries, including life sciences, health care and research and development.  The redevelopment of this land promises to continue to build upon and enhance partnerships between education and business and strengthen our urban economic base through the revitalization and reconnection of city neighborhoods once separated by the I-Way.

Governor Lincoln Chafee and the RIEDC are committed to working with all stakeholders including the City of Providence and the Rhode Island Department of Transportation to maximize this important opportunity for economic expansion and job creation.

Key economic development objectives:

Tax Revenue

  • Increase the commercial tax base in the City of Providence
  • Increase income, sales and corporate tax revenues to the State of Rhode Island

Economic Development

  • Leverage the presence of area institutions to promote the commercialization of research and development
  • Attract knowledge-based industries
  • Create high-wage, high-skilled jobs

Urban Revitalization

  • Contribute to the ongoing revitalization of great neighborhoods through thoughtful urban design
  • Address the historic character of surrounding properties/neighborhoods
  • Take advantage of the waterfront, transit, highway access and neighboring institutions
  • Address relationships to adjacent districts


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