Connect Greater Newport

Executive Summary
The Greater Newport Economy has emerged relatively strong since the global pandemic tested the resilience of the business
community and residents of the region. The analysis and information gathered for this report yield several key findings.

Sector Dynamics
● The Professional, Scientific, and Technical Services sector added nearly 2,300 jobs over the past decade, outpacing
the growth nationally.
● Overall, the region has seen continued employment and wage growth, reflecting positive opportunities for the area’s
highly educated workforce.
● The Ocean economy in the region contributed 6,681 jobs to the overall economy in 2024. From 2014 to 2024, these
industries saw 27% growth, adding 1,406 jobs during the time period.
Educated and Changing Workforce
● Local education institutions in the region produced more than 2,100 graduates in 2024, making Newport and Bristol
counties an attractive place for new business growth.
● The percentage of people who live and work in Newport County is decreasing, which means more people are
commuting to the region for work, most likely due to housing market challenges.

Housing Trends
● There has been significant growth in median household income and median housing values, with Greater Newport
somewhat below many peer regions.
● Newport’s median listing price has increased 22% from December 2024 to December 2025, with a current median
price of $1.1 million

The Voice Of Small Business - Business Walk and Survey
● Business owners told us about a strong 2025, especially the summer season, but survey data show an eroding
confidence with increasing costs and the lack of a corresponding increase in revenue to support profitability.
● The Newport region has seen 7% growth in small businesses from 2013 to 2023, more than for the state (4.1%).

Full Report HERE