Newport Comprehensive Land Use Plan - Existing Conditions | Page 51

4 Economic Development Tourism and Hospitality Newport is, and always should be, one of the premier destinations for leisure and recreation in the U.S. While diversification of the economic base is important, Newport must finds ways to continue to support its tourism sector, addressing where possible, the negative impacts on mobility, public services, and neighborhoods. Accordingly, every year Newport dedicates hundreds of volunteer hours and thousands of dollars in support of iconic events, marketing, public safety, and other activities directly benefiting this business sector. Workforce Development Newport has become a regional leader in supporting efforts to link academic institutions with local employers, particularly in regards to meeting the need for “STEAM” skills – Science, Technology, Engineering, Arts, and Mathematics. The MET School, the Newport branch of the CCRI, and the city’s public schools are all involved in some way in these efforts. Other initiatives, such as the Southeastern New England Defense Industry Alliance (SENEDIA) are collaborations tied to key sectors. With the help of the Commerce RI and the State Department of Labor and Training (DLT), SENEDIA brings employers together with workforce development organizations and educational institutions to improve the competitiveness of the defense industry by jointly addressing workforce skill development needs. Housing City leadership understands that housing development and redevelopment are both economic engines themselves, but that also, more broadly, a sufficient, safe and affordable supply of housing to meet the needs of local employees is essential to economic success. The city is investing resources in improving the quality of its housing stock and in trying to maintain affordable housing. Currently, Newport provides over 70 percent more affordable units over the state requirement. However, additional efforts may be necessary to address the city’s declining population, seasonal tourism impacts and growing elderly cohort. Climate Change Adaptation and Mitigation Perhaps the greatest challenge the city has faced are the threats to its economy posed by sea level rise and its associated impacts. Newport has been and will be a leader in supporting comprehensive and collaborative efforts on many fronts to identify, design, and implement the actions necessary to successfully meet these challenges. Streetscape Projects Newport understands that streets are not just corridors for vehicles, but that they are important and valuable public spaces to leverage and create value. In recent years Newport has invested in streetscape improvements that will provide safe, beautiful, functional and pleasing environments for residents and visitors. Thames & Spring Streets, America’s Cup Avenue, Memorial Boulevard, and Broadway will serve as design models for any future streetscape projects. The Newport streetscape is a backdrop for its historic and cultural assets, maintenance positively affects the livelihood of the community. Capital Facility Projects The City Capital Improvement Plan (CIP) is a detailed aggregation of phased utility and other public facility improvements, ideally tied to a holistic and comprehensive strategy based on the City Plan. In terms of economic development, the City tries to use the CIP to address multiple needs and multiple areas of the city. Funds are never sufficient for all necessary projects, and first priority typically goes to those which address life safety or serious compliance issues. Many of these have direct implications on economic development. For inst ance, improvements to the city’s potable water supply storage, treatment and distribution system have direct bearing on the ability to support seasonal peaks in tourism. Draft Existing Conditions (March 2016) Page 4-9