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Economy

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As a small city, Newport has rich culture, history, and vibrant natural features with a diverse urban population, and seasonal tourist influx.

Newport is the location of several large institutions, including the U.S. Naval Base Newport and its 50 service sectors, including the United States Naval War College. Additionally, the City is home to the Newport Hospital, Salve Regina University, and the International Yacht Restoration School (IYRS). These institutions are among Newport's larger employers.

PRIVATE INDUSTRY EMPLOYMENT 2005-2009 ACS
5-Year Estimates
Estimated Percent Margin of Error (+/-)
Civilian employed population (16 years and over) 12,560 485 people
Agriculture Forestry & Fisheries 24 0.2% 0.2%
Construction 938 7.5% 1.9%
Manufacturing 683 5.4% 1.5%
Transportation Communications & Utilities 321 2.6% 1.1%
Wholesale Trade 145 1.2% 0.7%
Retail Trade 1,506 12.0% 1.9%
Finance, Insurance & Real Estate 985 2.7% 1.7%
Information 342 2.7% 1.3%
Professional, scientific, and management, and administrative and waste management services 1,627 13.0% 2.4%
Educational services, and health care and social assistance 2,877 22.9% 3.2%
Arts, entertainment, and recreation, and accommodation and food services 2,106 16.8% 2.9%
Other services, except public administration 379 3.0% 1.0%
Public administration 627 5.0% 1.6%

 

Tourism

Over the last thirty years, tourism in Newport has grown substantially. As the State's principal tourist center and resort community, Newport is visited annually by approximately 3.5 million tourists who attend special events, sail, and view the City's mansions and other attractions.

The City's popularity has stimulated significant private investment in retail shopping facilities, hotels, timeshare units, restaurants, clubs, and other tourist-oriented enterprises.

Navy

Naval Station Newport and its associated activities play a major role in the City's economy, with approximately 4,500 civilians, 1,400 staff military personnel, and an average daily onboard student count of 1,500.

The Department of the Navy 2001 Rhode Island Area Annual Report states that the gross payroll for all Navy activity located in Newport was $450,694,438, maintaining the Navy's position as Newport County's largest single employer in terms of payroll and personnel statistics. In addition to jobs directly created by the Navy, there are large numbers of high technology and defense-related jobs generated indirectly by the Navy.

CLASS OF WORKER 2005-2009 ACS
5-Year Estimates
Estimated Percent Margin of Error (+/-)
Private wage and salary workers 9,786 77.9% 2.9%
Government workers 1,763 14.0% 2.4%
Self-employed workers in own not incorporated business 1,002 8.0% 2.0%
Unpaid family workers 9 0.1% 0.1%

 

General Figures on the Health of the Economy

(American Community Survey 2005-2009 5-Year Estimates)
  • GROSS RETAIL SALES ($1,000) (2002) $305,356
  • Median family income $56,802
  • Per capita income $35,816
INCOME 2005-2009 ACS
5-Year Estimates
Estimated Percent Margin of Error (+/-)
Total Households 10,558 418 people
Less than $10,000 833 7.9% 2.0%
$10,000 to $14,999 552 5.2% 1.5%
$15,000 to $24,999 960 9.1% 1.9%
$25,000 to $34,999 1,191 11.3% 1.7%
$35,000 to $49,999 1,053 10.0% 2.3%
$50,000 to $74,999 1,820 17.2% 2.8%
$75,000 to $99,999 1,621 15.4% 2.4%
$100,000 to $149,999 1,475 14.0% 2.4%
$150,000 to $199,999 522 4.9% 1.2%
$200,000 or more 531 5.0% 1.5%

 

RESIDENT LABOR FORCE 2005-2009 ACS
5-Year Estimates
Estimated Percent Margin of Error (+/-)
Total Employment 13,936 67.4% 2.9%
Unemployment 543 2.6% 0.6%
Labor Force (16 years and older) 20,665 370 people
Unemployment Rate 2.6% 0.6%

 

BELOW POVERTY LEVEL 2005-2009 ACS
5-Year Estimates
Margin of Error (+/-)
Families 5.1% 1.7%
With related children under 18 years 9.9% 3.4%
With related children under 5 years only 12.6% 10.7%
All people 10.6% 2.1%
Under 18 13.2% 4.8%
18 to 64 Years 9.5% 2.3%
65 years and over 12.1% 4.2%

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