IV-194 



if it is further assumed that the total assessed value of the Bay 

 summer property represents a 70 percent of the actual investment, 

 then the total assessment of $27,418,059 would represent an invest- 

 ment of $39,168,600 with annual expenses of $1,958,430. Adding 

 the expenses to the tax revenues gives an estimated annual net 

 addition to the area of $2,870,875. 



CAY TRANSPORTATION 



Narragansett Bay is both an obstacle to and an avenue of commerce. 

 The trans-state movement of people and goods is blocked by the 

 same body of water that serves as a natural well -sheltered roadway 

 for water-borne commerce. However, the income, employment, and 

 expenditures generated in construction, operation, and maintenance 

 of ocean port facilities, bridges, and ferry facilities, justify 

 the inclusion of transportation as an economic factor. 



The Port of Providence is Rhode Island's major port and ranks 

 third in overall importance for The New England States. The economic 

 impact of the Port can be measured through all three categories of 

 activities - primary, secondary, and marginal (see Figure IV.3.1). 

 Table IV. 3. 11 shows estimates of economic impact of various commodi- 

 ties passing through the Port and multiplier factors from a nation- 

 wide study of the Maritime Administration. 



