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Through tax incentives and regulatory reforms, the state was able to encourage the growth of industries such as financial services, biotechnology, and the marine trades.
The historic preservation tax credit signed into law by Governor Almond in 2001 led to projects, such as the rehabilitation of the Masonic Temple as a hotel in Providence.
The Quonset Davisville Port and Commerce Park, was greatly expanded in terms of number of businesses and level of employment.
Almond was a strong advocate to transform the existing port at Quonset into a privately-owned, compact container port.

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