# Rhode Island Economic Development Corporation

Rhode Island Economic Development Corporation is a Government / Public Body based in Providence, United States.

## Overview

- **Organization type:** Government / Public Body
- **Headquarters:** Providence, United States
- **Region:** North America
- **Address:** Providence, RI, United States
- **Founded:** 1995
- **Assets under management:** Undisclosed
- **Website:** www.riedc.com
- **LinkedIn:** https://www.linkedin.com/company/commerce-ri

## Regulatory record

- **Reports private funds:** No

## About

Rhode Island Commerce is the official economic development organization for the State of Rhode Island. The mission of Rhode Island Commerce is to work with public, private and non-profit partners to create the conditions for businesses in all sectors to thrive and to improve the quality of life for our citizens by promoting the state's long-term economic health and prosperity.

## Sectors

- Real Estate
- Infrastructure
- Industrial Tech
- Mobility & Transportation

## People

- Dan McKee — Chairperson of the Board of Directors
- Liz Tanner — Secretary of Commerce and CEO
- Karl Wadensten — Treasurer of the Board of Directors

## Questions

### Who holds ultimate governance authority over the Rhode Island Economic Development Corporation?

The Governor of Rhode Island serves as chairperson of the board. Liz Tanner, Rhode Island's Secretary of Commerce, acts as CEO of the parent Commerce Corporation. This structure places the state's top elected official and its commerce secretary in direct governance roles, with board representation from private industry and organized labor providing an additional check on decisions.

### Does the corporation make venture-capital or private-equity fund commitments?

No. The Rhode Island Economic Development Corporation does not operate as a fund-of-funds or LP in private markets. Its deployment model is asset-based — direct ownership and improvement of land parcels, port infrastructure, and industrial facilities, plus loan and bond programs tied to in-state business expansion.

### What physical assets does the corporation own and operate directly?

The corporation, primarily through its Quonset Development Corporation subsidiary, owns and operates Quonset Business Park in North Kingstown, the adjacent Port of Davisville — a major auto-import and offshore-wind staging port — the ProvPort land parcel, and a mixed-use site at 265 Manton Avenue in Providence. These are operating assets, not passive holdings.

### How does the corporation finance its activities?

Financing comes from several sources: state appropriation, revenue from leases and port operations at the properties it manages, and the issuance of tax-exempt revenue bonds and taxable bonds. It can also employ tax-increment financing and loan guarantees for projects that align with its manufacturing and logistics mandate.

### What is the relationship between the Rhode Island Economic Development Corporation and the Quonset Development Corporation?

The Quonset Development Corporation is a special-purpose subsidiary of the Rhode Island Commerce Corporation and handles day-to-day management of the Quonset Business Park and Port of Davisville. The Economic Development Corporation is the broader entity, with the subsidiary acting as its operating arm for those specific assets.

### What sectors does the corporation explicitly target?

Focus areas include industrial real estate, maritime logistics, manufacturing, and port operations. It avoids typical venture-stage technology or consumer-facing investments, concentrating entirely on physical-asset development and infrastructure within Rhode Island that supports job creation and supply-chain resilience.

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Last updated: 2026-06-03T20:00:00.000Z

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